Insider Selling: D-Wave Quantum (NYSE:QBTS) CFO Sells 328,752 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 328,752 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $27.70, for a total transaction of $9,106,430.40. Following the transaction, the chief financial officer owned 1,442,820 shares in the company, valued at approximately $39,966,114. The trade was a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

D-Wave Quantum Trading Down 0.8%

D-Wave Quantum stock traded down $0.23 during trading hours on Wednesday, reaching $27.59. 33,906,740 shares of the company’s stock traded hands, compared to its average volume of 31,732,994. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. D-Wave Quantum Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $46.75. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of -24.42 and a beta of 1.95. The firm’s 50 day moving average is $18.83 and its 200-day moving average is $22.10.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company had revenue of $2.86 million for the quarter, compared to the consensus estimate of $4.19 million. During the same period in the prior year, the company posted ($0.02) EPS. The company’s revenue was down 80.9% compared to the same quarter last year. On average, analysts predict that D-Wave Quantum Inc. will post -0.44 earnings per share for the current year.

D-Wave Quantum News Summary

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave announced a letter of intent with the U.S. Department of Commerce for $100 million in CHIPS and Science Act funding, reinforcing its hardware and superconducting quantum roadmap and giving investors a clearer government-backed catalyst. D-Wave Quantum (QBTS) and Department of Commerce Sign Letter of Intent for $100M in CHIPS and Science Act Funding
• Positive Sentiment: Coverage highlighted D-Wave’s record bookings, expanding system sales, and rising enterprise adoption, which supports the view that QBTS is becoming more commercially relevant and could have additional upside if execution continues. IONQ vs. QBTS: Which Quantum Stock Has More Upside Potential in June?
• Positive Sentiment: D-Wave also said it secured second-year funding for a superconducting quantum innovation project, extending U.S.-backed support for its technology development and reducing some funding risk. D-Wave Quantum Secures Second-Year Defense Microelectronics Funding
• Neutral Sentiment: Several articles framed quantum computing as moving toward commercial breakout, which keeps investor enthusiasm elevated for the sector and may continue to support QBTS sentiment if the industry’s adoption story holds. Quantum Computing’s Commercial Breakout Has Arrived (QBTS)
• Negative Sentiment: Shares came under pressure after a classical computing study challenged D-Wave’s quantum advantage/supremacy claims, raising doubts about the company’s technical narrative and potentially pressuring sentiment in the near term. D-Wave Quantum (QBTS) Shares Slip 5% as Classical Computing Study Questions Quantum Advantage
• Negative Sentiment: TipRanks and other coverage echoed that a new laptop-based study disputed QBTS’s supremacy claims, adding headline risk and helping explain why the stock has cooled after a sharp rally. D-Wave Stock Falls as Laptop Study Challenges QBTS Quantum Supremacy Claim

Analysts Set New Price Targets

A number of research analysts have issued reports on QBTS shares. Roth Mkm cut their target price on shares of D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings downgraded shares of D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $43.00 price target on shares of D-Wave Quantum in a research report on Wednesday, May 13th. TD Cowen started coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They issued a “buy” rating on the stock. Finally, Canaccord Genuity Group cut their price target on shares of D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.67.

Institutional Trading of D-Wave Quantum

A number of hedge funds have recently modified their holdings of QBTS. Baird Financial Group Inc. raised its position in shares of D-Wave Quantum by 12.0% in the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock valued at $92,000 after acquiring an additional 1,300 shares during the period. Royal Bank of Canada raised its holdings in D-Wave Quantum by 59.8% during the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock worth $1,231,000 after buying an additional 60,668 shares during the period. AQR Capital Management LLC raised its holdings in D-Wave Quantum by 201.0% during the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock worth $1,526,000 after buying an additional 134,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in D-Wave Quantum by 93.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after buying an additional 52,437 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in D-Wave Quantum by 125.7% during the 1st quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after buying an additional 24,382 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

About D-Wave Quantum

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.