D-Wave Quantum (NYSE:QBTS) Stock Price Up 2.5% – What’s Next?

D-Wave Quantum Inc. (NYSE:QBTS)’s share price traded up 2.5% during trading on Monday . The stock traded as high as $19.10 and last traded at $19.0520. 25,877,743 shares were traded during trading, a decline of 19% from the average session volume of 31,921,959 shares. The stock had previously closed at $18.59.

Wall Street Analysts Forecast Growth

QBTS has been the topic of a number of recent research reports. TD Cowen started coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They issued a “buy” rating on the stock. Benchmark reissued a “buy” rating and set a $35.00 price target on shares of D-Wave Quantum in a research report on Friday, January 23rd. Canaccord Genuity Group set a $43.00 price objective on shares of D-Wave Quantum in a report on Thursday, January 29th. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Mizuho dropped their price target on D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.50.

D-Wave Quantum Trading Up 2.5%

The company has a market cap of $7.05 billion, a P/E ratio of -17.32 and a beta of 1.61. The stock’s 50 day moving average is $23.27 and its 200-day moving average is $25.07. The company has a current ratio of 42.38, a quick ratio of 42.25 and a debt-to-equity ratio of 0.04.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The firm had revenue of $2.75 million for the quarter, compared to the consensus estimate of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. Research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Alan E. Baratz sold 793,712 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $30.13, for a total value of $23,914,542.56. Following the transaction, the chief executive officer directly owned 2,633,163 shares of the company’s stock, valued at approximately $79,337,201.19. This represents a 23.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total value of $144,080.00. Following the sale, the director owned 19,803 shares in the company, valued at approximately $356,652.03. This represents a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 967,466 shares of company stock valued at $28,820,666 in the last quarter. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On D-Wave Quantum

Large investors have recently bought and sold shares of the business. Root Financial Partners LLC raised its position in D-Wave Quantum by 388.0% in the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after buying an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $28,000. Atlantic Union Bankshares Corp bought a new stake in shares of D-Wave Quantum in the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of D-Wave Quantum by 267.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after purchasing an additional 838 shares during the last quarter. Finally, Ancora Advisors LLC bought a new position in D-Wave Quantum during the third quarter valued at approximately $30,000. 42.47% of the stock is currently owned by 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.