John D. Dilullo Sells 22,000 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John D. Dilullo sold 22,000 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.12, for a total value of $332,640.00. Following the sale, the director now directly owns 59,295 shares of the company’s stock, valued at approximately $896,540.40. This trade represents a 27.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

D-Wave Quantum Stock Up 1.2%

Shares of NYSE:QBTS opened at $15.74 on Thursday. The firm has a market capitalization of $4.60 billion, a PE ratio of -26.23 and a beta of 1.49. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $19.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 20.73 and a quick ratio of 20.61. The firm’s 50-day moving average is $12.07 and its two-hundred day moving average is $8.50.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. The firm had revenue of $15.00 million during the quarter, compared to analysts’ expectations of $10.50 million. Analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Hedge Funds Weigh In On D-Wave Quantum

Institutional investors have recently modified their holdings of the business. Fourth Dimension Wealth LLC acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at $26,000. PNC Financial Services Group Inc. purchased a new stake in D-Wave Quantum during the 4th quarter worth about $38,000. Russell Investments Group Ltd. increased its holdings in D-Wave Quantum by 133.9% during the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after purchasing an additional 3,165 shares during the period. Signaturefd LLC raised its position in D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock valued at $48,000 after buying an additional 3,266 shares during the period. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

QBTS has been the subject of a number of recent analyst reports. Roth Capital reissued a “buy” rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Benchmark lifted their price target on shares of D-Wave Quantum from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. B. Riley boosted their price target on shares of D-Wave Quantum from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Roth Mkm upped their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Needham & Company LLC lifted their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $12.50.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.