Insider Selling: D-Wave Quantum (NYSE:QBTS) CEO Sells 35,013 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz sold 35,013 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total value of $982,464.78. Following the completion of the sale, the chief executive officer directly owned 2,598,150 shares in the company, valued at approximately $72,904,089. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

D-Wave Quantum Stock Down 4.6%

D-Wave Quantum stock traded down $1.40 on Thursday, hitting $28.75. 43,498,854 shares of the stock traded hands, compared to its average volume of 40,024,453. D-Wave Quantum Inc. has a 1 year low of $4.45 and a 1 year high of $46.75. The firm has a market cap of $10.07 billion, a P/E ratio of -21.30 and a beta of 1.57. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $26.22 and its 200 day simple moving average is $23.89.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The business had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. The company’s revenue was up 105.6% compared to the same quarter last year. As a group, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

QBTS has been the topic of several analyst reports. Benchmark boosted their target price on D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Monday, December 29th. Zacks Research raised D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Jefferies Financial Group assumed coverage on shares of D-Wave Quantum in a report on Tuesday, December 16th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Evercore ISI initiated coverage on shares of D-Wave Quantum in a research report on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Ancora Advisors LLC bought a new position in shares of D-Wave Quantum in the third quarter worth about $30,000. Financial Consulate Inc. bought a new position in D-Wave Quantum in the 3rd quarter worth approximately $31,000. Kelleher Financial Advisors bought a new position in D-Wave Quantum in the 3rd quarter worth approximately $40,000. Larson Financial Group LLC grew its holdings in D-Wave Quantum by 1,754.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock valued at $46,000 after buying an additional 1,754 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of D-Wave Quantum by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after buying an additional 482 shares during the last quarter. 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.