Insider Selling: D-Wave Quantum (NYSE:QBTS) Director Sells 10,000 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Rohit Ghai sold 10,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $24.28, for a total value of $242,800.00. Following the completion of the sale, the director owned 37,778 shares of the company’s stock, valued at approximately $917,249.84. This trade represents a 20.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

D-Wave Quantum Stock Up 7.5%

D-Wave Quantum stock traded up $1.78 during midday trading on Tuesday, hitting $25.52. 25,912,911 shares of the company were exchanged, compared to its average volume of 60,975,797. The company has a market cap of $8.94 billion, a PE ratio of -18.91 and a beta of 1.58. D-Wave Quantum Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $46.75. The company’s fifty day moving average price is $29.38 and its 200-day moving average price is $22.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data 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. The company had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.03 million. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The business’s revenue for the quarter was up 105.6% compared to the same quarter last year. On average, research analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

QBTS has been the subject of a number of recent analyst reports. Benchmark raised their price target on shares of D-Wave Quantum from $20.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 10th. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Evercore ISI started coverage on D-Wave Quantum in a research note on Wednesday, December 3rd. They set an “outperform” rating and a $44.00 target price for the company. Cantor Fitzgerald boosted their price target on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Mizuho initiated coverage on D-Wave Quantum in a report on Thursday, December 11th. They issued an “outperform” rating and a $46.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.93.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QBTS. Atria Wealth Solutions Inc. bought a new stake in shares of D-Wave Quantum in the 1st quarter valued at approximately $130,000. Vanguard Group Inc. lifted its stake in D-Wave Quantum by 58.5% during the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock worth $85,766,000 after purchasing an additional 4,166,721 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in D-Wave Quantum by 69.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 544,956 shares of the company’s stock worth $4,142,000 after purchasing an additional 223,672 shares during the last quarter. Deutsche Bank AG boosted its holdings in D-Wave Quantum by 103.6% in the first quarter. Deutsche Bank AG now owns 150,509 shares of the company’s stock worth $1,144,000 after purchasing an additional 76,603 shares during the period. Finally, Swiss National Bank bought a new stake in D-Wave Quantum during the first quarter valued at $3,532,000. Institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

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.