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

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 8,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were 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 of the company’s stock, valued at $356,652.03. The trade was a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

D-Wave Quantum Stock Down 1.1%

QBTS traded down $0.21 during trading on Friday, hitting $18.62. The stock had a trading volume of 27,180,057 shares, compared to its average volume of 23,792,158. The stock has a 50 day simple moving average of $23.27 and a two-hundred day simple moving average of $24.93. 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 Inc. has a twelve month low of $4.49 and a twelve month high of $46.75. The company has a market capitalization of $6.89 billion, a PE ratio of -16.93 and a beta of 1.61.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.74 million. The firm’s revenue was up 21.7% compared to the same quarter last year. On average, research analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on QBTS shares. Benchmark reiterated a “buy” rating and issued a $35.00 price target on shares of D-Wave Quantum in a research note on Friday, January 23rd. Rosenblatt Securities restated a “buy” rating and set a $43.00 price target on shares of D-Wave Quantum in a research note on Wednesday, January 28th. Wedbush began coverage on shares of D-Wave Quantum in a report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price objective on the stock. Mizuho decreased their price objective on shares of D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, Wall Street Zen cut shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research note 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Tulsa Wealth Advisors INC purchased a new stake in D-Wave Quantum in the fourth quarter valued at approximately $248,000. Caitong International Asset Management Co. Ltd raised its position in D-Wave Quantum by 16.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 111,923 shares of the company’s stock worth $2,927,000 after buying an additional 15,675 shares during the last quarter. Tempo Wealth LLC acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $774,000. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $311,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of D-Wave Quantum in the 4th quarter valued at $31,000. 42.47% of the stock is owned by institutional investors and hedge funds.

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.