D-Wave Quantum (NYSE:QBTS) Stock Price Down 3.9% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s share price fell 3.9% during trading on Wednesday . The stock traded as low as $24.74 and last traded at $25.9930. 44,156,250 shares were traded during mid-day trading, an increase of 7% from the average session volume of 41,278,031 shares. The stock had previously closed at $27.04.

Analyst Ratings Changes

Several research firms have recently issued reports on QBTS. Evercore ISI initiated coverage on D-Wave Quantum in a research report on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 price target for the company. Zacks Research upgraded shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday, December 29th. Mizuho started coverage on shares of D-Wave Quantum in a report on Thursday, December 11th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Roth Mkm set a $40.00 price target on shares of D-Wave Quantum in a research report on Thursday, November 6th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.36.

D-Wave Quantum Price Performance

The stock has a market capitalization of $9.10 billion, a PE ratio of -19.25 and a beta of 1.57. The firm’s fifty day moving average price is $26.17 and its two-hundred day moving average price is $24.31. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The company had revenue of $3.74 million for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 105.6% compared to the same quarter last year. On average, equities analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $27.36, for a total transaction of $218,880.00. Following the completion of the sale, the director owned 27,803 shares in the company, valued at approximately $760,690.08. This represents a 22.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 35,013 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total value of $982,464.78. Following the completion of the transaction, the chief executive officer directly owned 2,598,150 shares in the company, valued at $72,904,089. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,346,916 shares of company stock valued at $65,591,314 over the last ninety days. 3.20% of the stock is owned by insiders.

Institutional Trading of D-Wave Quantum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in D-Wave Quantum by 125.7% during the 2nd quarter. Osaic Holdings Inc. now owns 247,004 shares of the company’s stock valued at $3,616,000 after buying an additional 137,549 shares in the last quarter. UNICOM Systems Inc. lifted its holdings in shares of D-Wave Quantum by 12.1% in the third quarter. UNICOM Systems Inc. now owns 3,121,346 shares of the company’s stock worth $77,128,000 after buying an additional 337,838 shares in the last quarter. IFP Advisors Inc boosted its position in shares of D-Wave Quantum by 123.8% during the second quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock worth $217,000 after acquiring an additional 8,194 shares during the last quarter. World Investment Advisors bought a new position in shares of D-Wave Quantum during the second quarter worth $190,000. Finally, Csenge Advisory Group grew its stake in D-Wave Quantum by 99.1% during the third quarter. Csenge Advisory Group now owns 35,886 shares of the company’s stock valued at $887,000 after acquiring an additional 17,860 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Company Profile

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.