John Dilullo Sells 1,100 Shares of D-Wave Quantum (NASDAQ:QBTS) Stock

D-Wave Quantum Inc. (NASDAQ:QBTS) Director John Dilullo sold 1,100 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.00, for a total transaction of $19,800.00. Following the transaction, the director directly owned 20,210 shares in the company, valued at $363,780. This trade represents a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Price Performance

NASDAQ:QBTS opened at $16.66 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42. D-Wave Quantum Inc. has a one year low of $12.75 and a one year high of $46.75. The company has a fifty day moving average price of $18.80 and a 200 day moving average price of $20.01. The stock has a market cap of $6.16 billion, a P/E ratio of -23.46 and a beta of 2.15.

D-Wave Quantum (NASDAQ:QBTS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The company had revenue of $3.08 million during the quarter, compared to analyst estimates of $4.03 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was down 0.6 on a year-over-year basis. Analysts anticipate that D-Wave Quantum Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. grew its holdings in shares of D-Wave Quantum by 12.0% in the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after purchasing an additional 1,300 shares during the last quarter. Royal Bank of Canada boosted its position in D-Wave Quantum by 59.8% in the first quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after buying an additional 60,668 shares in the last quarter. AQR Capital Management LLC grew its stake in D-Wave Quantum by 201.0% during the first quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock worth $1,526,000 after buying an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in D-Wave Quantum by 93.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after buying an additional 52,437 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of D-Wave Quantum by 125.7% during the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after buying an additional 24,382 shares in the last quarter. 42.47% of the stock is owned by institutional investors.

Key D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: The U.S. Commerce Department plans to invest up to $300 million for minority equity stakes in D-Wave, Rigetti Computing and Quantinuum. For D-Wave, the previously announced CHIPS Act agreement provides up to $100 million, strengthening its balance sheet, extending its cash runway and signaling strategic government support for domestic quantum technology. Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
• Positive Sentiment: D-Wave issued 7,095,721 shares to the U.S. government under the $100 million agreement. Although the transaction dilutes existing shareholders, the capital infusion avoids a fully conventional financing and gives Washington a direct financial interest in D-Wave’s development. D-Wave Issues 7.1M QBTS Shares to U.S. Government
• Neutral Sentiment: Director John DiLullo sold 1,100 shares for $19,800 under a pre-arranged Rule 10b5-1 plan. The sale reduced his position by 5.16%, but its preset nature makes it a relatively weak signal about management’s current outlook. D-Wave Director Stock Sale
• Negative Sentiment: Three securities-law firms announced investigations concerning potential claims on behalf of D-Wave investors. The notices do not establish wrongdoing, but they add headline, legal and reputational risk. QBTS Investigation Alert
• Negative Sentiment: Quantum stocks pulled back as expectations for additional Federal Reserve tightening increased. Higher rates tend to pressure speculative, high-beta companies such as D-Wave by reducing the value investors place on long-term growth prospects. Quantum Stocks Fall as Rate-Hike Odds Climb
• Negative Sentiment: D-Wave remains unprofitable: its latest quarterly loss exceeded expectations and revenue fell short of analyst estimates. The company’s high valuation relative to current revenue leaves QBTS vulnerable to profit-taking and skepticism about the timing of commercial quantum adoption.

Analysts Set New Price Targets

QBTS has been the topic of several research reports. Stifel Nicolaus set a $35.00 price target on D-Wave Quantum in a research note on Tuesday, June 2nd. Mizuho raised their price objective on D-Wave Quantum from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Weiss Ratings raised D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 28th. B. Riley Financial raised their target price on D-Wave Quantum from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wedbush began coverage on shares of D-Wave Quantum in a research note on Monday, August 3rd. They set an “outperform” rating and a $40.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

About D-Wave Quantum

D-Wave Quantum Inc develops quantum computing systems, software, and services for commercial, government, and research customers. The company is best known for its quantum annealing technology, which is designed to help solve complex optimization problems involving areas such as logistics, scheduling, manufacturing, artificial intelligence, and financial modeling.

D-Wave also develops gate-model quantum computing technology and provides access to its systems through cloud-based services, including the Leap quantum application environment.