D-Wave Quantum (NYSE:QBTS) Stock Price Down 3.3% – Should You Sell?

Shares of D-Wave Quantum Inc. (NYSE:QBTS) fell 3.3% on Tuesday . The stock traded as low as $13.38 and last traded at $13.6730. 14,829,875 shares changed hands during trading, a decline of 48% from the average session volume of 28,418,773 shares. The stock had previously closed at $14.14.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QBTS. TD Cowen began coverage on shares of D-Wave Quantum in a research note on Thursday, February 12th. They set a “buy” rating for the company. Roth Mkm lowered their target price on shares of D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Friday, March 27th. Jefferies Financial Group assumed coverage on D-Wave Quantum in a research report on Tuesday, December 16th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Zacks Research lowered D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Fourteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

D-Wave Quantum Stock Performance

The company has a market cap of $5.06 billion, a P/E ratio of -12.43 and a beta of 1.78. The company has a 50 day moving average price of $18.28 and a 200-day moving average price of $24.97. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results 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). D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The business had revenue of $2.75 million during the quarter, compared to the consensus estimate of $3.74 million. D-Wave Quantum’s revenue for the quarter was up 21.7% compared to the same quarter last year. Equities analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Alan E. Baratz sold 35,013 shares of the 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 transaction, the chief executive officer owned 2,598,150 shares of the company’s stock, valued at approximately $72,904,089. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total value of $144,080.00. Following the completion of the transaction, the director directly owned 19,803 shares of the company’s stock, valued at approximately $356,652.03. The trade was a 28.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 72,898 shares of company stock worth $1,749,054. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Root Financial Partners LLC boosted its stake in D-Wave Quantum by 388.0% during the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after buying an additional 776 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in D-Wave Quantum during the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its stake in 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 buying an additional 838 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new position in D-Wave Quantum during the fourth quarter valued at about $31,000. Finally, Ancora Advisors LLC bought a new position in D-Wave Quantum during the third quarter valued at about $30,000. 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.