D-Wave Quantum (NYSE:QBTS) CEO Alan Baratz Sells 35,013 Shares

D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz sold 35,013 shares of D-Wave Quantum stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total transaction of $982,464.78. Following the completion of the sale, the chief executive officer owned 2,598,150 shares in the company, valued at approximately $72,904,089. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

D-Wave Quantum Price Performance

Shares of QBTS traded down $1.40 during midday trading on Thursday, hitting $28.75. 43,498,854 shares of the company traded hands, compared to its average volume of 40,024,453. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of -21.30 and a beta of 1.57. The firm has a 50 day moving average of $26.22 and a 200-day moving average of $23.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. D-Wave Quantum Inc. has a 52 week low of $4.45 and a 52 week high of $46.75.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business 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 company’s revenue was up 105.6% on a year-over-year basis. On average, analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on QBTS shares. Benchmark lifted their price target on D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Williams Trading set a $35.00 price objective on D-Wave Quantum in a research note on Monday, November 10th. B. Riley lifted their target price on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Mizuho assumed coverage on shares of D-Wave Quantum in a research report on Thursday, December 11th. They set an “outperform” rating and a $46.00 price objective on the stock. Fourteen 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.67.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC purchased a new stake in shares of D-Wave Quantum in the third quarter valued at approximately $30,000. Financial Consulate Inc. bought a new stake in D-Wave Quantum during the 3rd quarter valued at $31,000. Kelleher Financial Advisors purchased a new stake in shares of D-Wave Quantum in the 3rd quarter worth $40,000. Larson Financial Group LLC grew its position in shares of D-Wave Quantum by 1,754.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock worth $46,000 after buying an additional 1,754 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of D-Wave Quantum by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after buying an additional 482 shares during the period. 42.47% of the stock is currently owned by institutional investors.

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.