D-Wave Quantum (NYSE:QBTS) Director Kirstjen Nielsen Sells 7,000 Shares

D-Wave Quantum Inc. (NYSE:QBTS) Director Kirstjen Nielsen sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total transaction of $158,340.00. Following the sale, the director directly owned 112,673 shares in the company, valued at $2,548,663.26. This trade represents a 5.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

D-Wave Quantum Stock Performance

NYSE QBTS opened at $26.97 on Friday. The company’s 50 day simple moving average is $29.60 and its two-hundred day simple moving average is $21.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. D-Wave Quantum Inc. has a 1 year low of $3.71 and a 1 year high of $46.75. The stock has a market capitalization of $9.44 billion, a PE ratio of -19.98 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.03 million. D-Wave Quantum’s revenue for the quarter was up 105.6% compared to the same quarter last year. Analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of D-Wave Quantum

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after acquiring an additional 11,218,255 shares in the last quarter. UBS Group AG grew its holdings in shares of D-Wave Quantum by 541.6% during the 3rd quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after purchasing an additional 10,205,427 shares during the last quarter. Marex Group plc purchased a new position in D-Wave Quantum in the 2nd quarter worth $80,070,000. Arrowstreet Capital Limited Partnership purchased a new position in D-Wave Quantum in the 2nd quarter worth $45,372,000. Finally, Clear Street Group Inc. bought a new stake in D-Wave Quantum in the third quarter worth $75,344,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

QBTS has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their price target on D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Tuesday. Roth Capital set a $40.00 target price on shares of D-Wave Quantum in a research note on Thursday, November 6th. B. Riley lifted their target price on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Wall Street Zen raised shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.85.

About D-Wave Quantum

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.