D-Wave Quantum (NYSE:QBTS) Trading 4.9% Higher – What’s Next?

Shares of D-Wave Quantum Inc. (NYSE:QBTS) shot up 4.9% during mid-day trading on Friday . The company traded as high as $20.07 and last traded at $19.7390. 23,739,313 shares were traded during trading, a decline of 33% from the average session volume of 35,569,129 shares. The stock had previously closed at $18.82.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of D-Wave Quantum in a research report on Thursday, January 29th. Wall Street Zen lowered D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Mizuho began coverage on D-Wave Quantum in a research report on Thursday, December 11th. They issued an “outperform” rating and a $46.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 target price on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Finally, Wedbush initiated coverage on shares of D-Wave Quantum in a report on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.21.

D-Wave Quantum Trading Up 4.9%

The business’s 50 day moving average price is $25.84 and its 200-day moving average price is $24.77. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -14.62 and a beta of 1.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68.

Insider Transactions at D-Wave Quantum

In related news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the completion of the sale, the director owned 37,778 shares in the company, valued at $917,249.84. This trade represents a 20.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $27.36, for a total transaction of $218,880.00. Following the completion of the transaction, the director owned 27,803 shares in the company, valued at approximately $760,690.08. This trade represents a 22.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,274,466 shares of company stock valued at $36,146,806. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QBTS. Root Financial Partners LLC increased its holdings in D-Wave Quantum by 388.0% during the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after purchasing an additional 776 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of D-Wave Quantum during the second quarter worth $29,000. EverSource Wealth Advisors LLC increased its stake in shares of D-Wave Quantum by 267.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after buying an additional 838 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of D-Wave Quantum in the third quarter valued at about $30,000. Finally, Financial Consulate Inc. acquired a new position in D-Wave Quantum during the 3rd quarter worth about $31,000. Institutional investors own 42.47% of the company’s stock.

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.