D-Wave Quantum (NYSE:QBTS) Director John Dilullo Sells 7,850 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 7,850 shares of D-Wave Quantum stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $24.43, for a total transaction of $191,775.50. Following the sale, the director directly owned 21,310 shares in the company, valued at approximately $520,603.30. The trade was a 26.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Stock Up 7.9%

QBTS stock opened at $25.74 on Tuesday. The firm has a market cap of $9.52 billion, a PE ratio of -22.78 and a beta of 2.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. The firm’s 50 day moving average price is $20.92 and its 200-day moving average price is $22.22. D-Wave Quantum Inc. has a one year low of $12.75 and a one year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $2.86 million for the quarter, compared to analyst estimates of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The business’s revenue for the quarter was down 80.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) EPS. On average, equities research analysts anticipate that D-Wave Quantum Inc. will post -0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen initiated coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They set a “buy” rating on the stock. Roth Mkm boosted their target price on D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Northland Securities initiated coverage on D-Wave Quantum in a research report on Monday, April 20th. They issued a “market perform” rating and a $22.00 target price on the stock. Mizuho cut their target price on D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Zacks Research raised D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Institutional Trading of D-Wave Quantum

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of D-Wave Quantum by 370.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 96,248 shares of the company’s stock worth $2,378,000 after purchasing an additional 75,807 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of D-Wave Quantum by 254.7% during the fourth quarter. SG Americas Securities LLC now owns 2,272,020 shares of the company’s stock worth $59,413,000 after purchasing an additional 1,631,415 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of D-Wave Quantum by 61.2% during the third quarter. Jones Financial Companies Lllp now owns 104,661 shares of the company’s stock worth $2,801,000 after purchasing an additional 39,751 shares in the last quarter. WBI Investments LLC acquired a new position in shares of D-Wave Quantum during the third quarter worth $844,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of D-Wave Quantum during the fourth quarter worth $1,114,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

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.