D-Wave Quantum (NYSE:QBTS) Director John Dilullo Sells 8,000 Shares

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 8,000 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $144,080.00. Following the sale, the director directly owned 19,803 shares in the company, valued at approximately $356,652.03. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

D-Wave Quantum Price Performance

Shares of QBTS stock traded down $0.21 on Friday, reaching $18.62. 27,180,057 shares of the company were exchanged, compared to its average volume of 32,142,439. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -16.93 and a beta of 1.61. The business has a 50-day moving average price of $23.41 and a 200 day moving average price of $24.92. D-Wave Quantum Inc. has a 1 year low of $4.49 and a 1 year high of $46.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 54.49 and a current ratio of 42.38.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The business had revenue of $2.75 million for the quarter, compared to analysts’ expectations 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 firm’s revenue was up 21.7% on a year-over-year basis. Equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On D-Wave Quantum

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of D-Wave Quantum by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after purchasing an additional 482 shares during the period. Blue Bell Private Wealth Management LLC increased its position in shares of D-Wave Quantum by 5.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock worth $245,000 after acquiring an additional 500 shares in the last quarter. Huntington National Bank raised its stake in D-Wave Quantum by 17.9% during the 3rd quarter. Huntington National Bank now owns 3,300 shares of the company’s stock valued at $82,000 after purchasing an additional 500 shares during the period. bLong Financial LLC raised its position in D-Wave Quantum by 2.3% during the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after buying an additional 551 shares during the period. Finally, Sigma Planning Corp lifted its position in shares of D-Wave Quantum by 3.6% in the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock worth $431,000 after purchasing an additional 560 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on QBTS shares. Canaccord Genuity Group set a $43.00 price target on D-Wave Quantum in a research note on Thursday, January 29th. Jefferies Financial Group assumed coverage on D-Wave Quantum in a research report on Tuesday, December 16th. They set a “buy” rating and a $45.00 price objective for the company. Needham & Company LLC dropped their price target on shares of D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Evercore initiated coverage on D-Wave Quantum in a research report on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 price objective for the company. Finally, Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

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.