D-Wave Quantum (NASDAQ:QBTS) Stock Price Up 4% – What’s Next?

D-Wave Quantum Inc. (NASDAQ:QBTS) rose 4% during mid-day trading on Thursday. The company traded as high as $17.58 and last traded at $17.48. 18,509,789 shares traded hands during trading, a decline of 32% from the average daily volume of 27,280,258 shares. The stock had previously closed at $16.81.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: Enterprise partnership supports commercialization. D-Wave and CGI announced a strategic collaboration to promote adoption of D-Wave’s Advantage2 system and hybrid solvers among enterprise customers in logistics, transportation, retail and other industries. The partnership could help convert quantum-computing interest into commercial projects and recurring customer demand. What Does D-Wave Quantum Gain From Its New Enterprise Partnership?
• Positive Sentiment: Sector rebound and technical momentum lifted QBTS. Quantum-computing stocks, including D-Wave, extended a recent rebound as investors continued to digest technical developments across the industry. A separate report highlighted that QBTS shares gapped higher, indicating renewed short-term buying interest, although a gap-up alone does not establish a fundamental change in value. Quantum Computing Stocks Extend Rebound D-Wave Quantum Shares Gap Up
• Neutral Sentiment: Investors are weighing commercialization against valuation and interest-rate risks. Coverage of IonQ, D-Wave and Rigetti notes that efforts to commercialize quantum technology are progressing, but elevated valuations and sensitivity to interest rates could continue to produce substantial volatility. Quantum Stocks Near Q3 Finish Line
• Negative Sentiment: Pomerantz announced an investor investigation. The law firm is examining potential claims on behalf of D-Wave investors. The announcement does not itself establish wrongdoing, but it can increase litigation uncertainty and weigh on sentiment. Pomerantz Investor Alert
• Negative Sentiment: Acting CFO appointment and equity award raised dilution concerns. D-Wave appointed Gregory Golkov as acting CFO and disclosed a $550,000 equity award, which contributed to selling pressure and may prompt questions about executive compensation and dilution. D-Wave Discloses Acting CFO Equity Award

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings raised D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 28th. BMO Capital Markets began coverage on shares of D-Wave Quantum in a report on Thursday, August 20th. They issued an “outperform” rating and a $35.00 price target for the company. Roth Capital restated a “buy” rating and set a $30.00 price objective on shares of D-Wave Quantum in a research report on Thursday, August 6th. Benchmark started coverage on shares of D-Wave Quantum in a research note on Monday, July 27th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Zacks Research downgraded shares of D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

D-Wave Quantum Price Performance

The stock’s fifty day moving average price is $18.21 and its 200-day moving average price is $19.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of -24.52 and a beta of 2.15.

D-Wave Quantum (NASDAQ:QBTS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.08 million during the quarter, compared to analyst estimates of $4.03 million. During the same period in the prior year, the business posted ($0.08) EPS. The company’s revenue for the quarter was down 0.6 on a year-over-year basis. Equities research analysts predict that D-Wave Quantum Inc. will post -0.46 EPS for the current fiscal year.

Insider Activity

In other news, VP Sophie Ames sold 3,070 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $16.95, for a total value of $52,036.50. Following the completion of the sale, the vice president owned 589,009 shares in the company, valued at $9,983,702.55. This represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. CoreCap Advisors LLC boosted its position in D-Wave Quantum by 9.2% during the 2nd quarter. CoreCap Advisors LLC now owns 6,115 shares of the company’s stock worth $147,000 after acquiring an additional 515 shares during the period. Presilium Private Wealth LLC increased its holdings in shares of D-Wave Quantum by 6.9% in the 1st quarter. Presilium Private Wealth LLC now owns 10,657 shares of the company’s stock valued at $154,000 after purchasing an additional 687 shares during the period. Main Management ETF Advisors LLC increased its holdings in shares of D-Wave Quantum by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 69,687 shares of the company’s stock valued at $1,822,000 after purchasing an additional 712 shares during the period. Root Financial Partners LLC lifted its position in shares of D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after purchasing an additional 776 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of D-Wave Quantum by 2.4% in the first quarter. Private Advisor Group LLC now owns 33,341 shares of the company’s stock worth $481,000 after purchasing an additional 781 shares in the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Company Profile

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.