D-Wave Quantum Inc. (NYSE:QBTS) Director Sells $324,000.00 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John D. Dilullo sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.20, for a total value of $324,000.00. Following the completion of the sale, the director now owns 81,295 shares of the company’s stock, valued at $1,316,979. This trade represents a 19.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

D-Wave Quantum Stock Up 1.2%

Shares of D-Wave Quantum stock opened at $15.74 on Friday. The stock’s fifty day moving average is $12.24 and its 200-day moving average is $8.59. The firm has a market capitalization of $4.60 billion, a PE ratio of -26.23 and a beta of 1.49. The company has a quick ratio of 20.61, a current ratio of 20.73 and a debt-to-equity ratio of 0.15. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $19.77.

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

Analyst Ratings Changes

QBTS has been the subject of a number of research analyst reports. Roth Mkm upped their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Williams Trading set a $20.00 price objective on D-Wave Quantum in a report on Wednesday. Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a report on Friday, June 13th. B. Riley reissued a “buy” rating and issued a $20.00 price target (up from $13.00) on shares of D-Wave Quantum in a report on Wednesday. Finally, Benchmark reissued a “buy” rating and issued a $20.00 price target (up from $14.00) on shares of D-Wave Quantum in a report on Tuesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $13.57.

Institutional Investors Weigh In On D-Wave Quantum

Hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC lifted its position in shares of D-Wave Quantum by 69.3% in the 1st quarter. Voya Investment Management LLC now owns 48,924 shares of the company’s stock valued at $372,000 after acquiring an additional 20,022 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of D-Wave Quantum by 81.8% in the first quarter. Rhumbline Advisers now owns 242,515 shares of the company’s stock valued at $1,843,000 after purchasing an additional 109,110 shares in the last quarter. Strs Ohio purchased a new stake in shares of D-Wave Quantum in the first quarter valued at $139,000. Geneos Wealth Management Inc. purchased a new stake in shares of D-Wave Quantum in the first quarter valued at $147,000. Finally, Focus Partners Wealth lifted its holdings in shares of D-Wave Quantum by 86.5% in the first quarter. Focus Partners Wealth now owns 42,947 shares of the company’s stock valued at $326,000 after purchasing an additional 19,922 shares in the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

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.