Insider Selling: D-Wave Quantum (NYSE:QBTS) CFO Sells 11,562 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 11,562 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $23.89, for a total transaction of $276,216.18. Following the completion of the transaction, the chief financial officer owned 1,471,312 shares in the company, valued at $35,149,643.68. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

D-Wave Quantum Stock Performance

QBTS traded up $1.78 during trading on Tuesday, hitting $25.52. The stock had a trading volume of 25,912,911 shares, compared to its average volume of 60,975,797. The firm has a market cap of $8.94 billion, a PE ratio of -18.91 and a beta of 1.58. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12 month low of $3.74 and a 12 month high of $46.75. The company has a 50 day simple moving average of $29.38 and a 200-day simple moving average of $22.12.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The firm’s quarterly revenue was up 105.6% on a year-over-year basis. Analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Institutional Trading of D-Wave Quantum

A number of institutional investors and hedge funds have recently modified their holdings of QBTS. IFP Advisors Inc raised its holdings in shares of D-Wave Quantum by 123.8% in the 2nd quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock worth $217,000 after buying an additional 8,194 shares in the last quarter. World Investment Advisors bought a new stake in D-Wave Quantum in the second quarter valued at $190,000. Farther Finance Advisors LLC raised its stake in D-Wave Quantum by 491.3% during the second quarter. Farther Finance Advisors LLC now owns 16,321 shares of the company’s stock worth $239,000 after acquiring an additional 13,561 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of D-Wave Quantum during the second quarter valued at $14,349,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of D-Wave Quantum in the 2nd quarter valued at $217,000. 42.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QBTS. Zacks Research raised D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Williams Trading set a $35.00 price objective on D-Wave Quantum in a research report on Monday, November 10th. Roth Capital set a $40.00 price objective on shares of D-Wave Quantum in a research note on Thursday, November 6th. Rosenblatt Securities boosted their target price on shares of D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, B. Riley increased their price target on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, D-Wave Quantum has a consensus rating of “Moderate Buy” and a consensus target price of $31.93.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.