D-Wave Quantum Inc. (NYSE:QBTS) Given Average Rating of “Moderate Buy” by Analysts

D-Wave Quantum Inc. (NYSE:QBTS) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $31.00.

A number of brokerages have recently issued reports on QBTS. Wall Street Zen raised shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Williams Trading set a $35.00 price objective on shares of D-Wave Quantum in a research note on Monday, November 10th. Rosenblatt Securities increased their target price on shares of D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Zacks Research upgraded shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a research note on Monday, December 8th.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $26.18 on Friday. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of -19.39 and a beta of 1.57. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. D-Wave Quantum has a 12 month low of $3.71 and a 12 month high of $46.75. The stock’s 50 day moving average is $29.61 and its 200-day moving average is $22.04.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.03 million. The firm’s revenue for the quarter was up 105.6% compared to the same quarter last year. Equities research analysts expect that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Buying and Selling

In related news, Director Kirstjen Nielsen sold 7,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.62, for a total transaction of $158,340.00. Following the completion of the sale, the director owned 112,673 shares of the company’s stock, valued at $2,548,663.26. This represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alan E. Baratz sold 168,102 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the sale, the chief executive officer owned 2,633,163 shares in the company, valued at $61,010,386.71. The trade was a 6.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,444,813 shares of company stock valued at $38,959,206. 3.20% of the stock is owned by insiders.

Institutional Trading of D-Wave Quantum

Several large investors have recently made changes to their positions in QBTS. Mackenzie Financial Corp bought a new position in D-Wave Quantum in the first quarter valued at approximately $85,000. Blair William & Co. IL boosted its holdings in shares of D-Wave Quantum by 9.0% in the 1st quarter. Blair William & Co. IL now owns 30,438 shares of the company’s stock valued at $231,000 after purchasing an additional 2,503 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of D-Wave Quantum in the 1st quarter valued at $130,000. Vanguard Group Inc. raised its holdings in shares of D-Wave Quantum by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock worth $85,766,000 after buying an additional 4,166,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of D-Wave Quantum by 69.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 544,956 shares of the company’s stock worth $4,142,000 after buying an additional 223,672 shares during the last quarter. Institutional investors and hedge funds 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.