D-Wave Quantum (NYSE:QBTS) Shares Down 1.3% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price fell 1.3% on Monday . The stock traded as low as $13.78 and last traded at $14.1350. 14,200,451 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 28,624,213 shares. The stock had previously closed at $14.32.

Analyst Ratings Changes

QBTS has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Friday, March 27th. Wedbush initiated coverage on D-Wave Quantum in a research report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price target on the stock. Zacks Research lowered D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. Benchmark reaffirmed a “buy” rating and set a $35.00 price target on shares of D-Wave Quantum in a research report on Friday, January 23rd. Finally, Mizuho dropped their price target on D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Fourteen analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.50.

D-Wave Quantum Stock Performance

The company has a market cap of $5.40 billion, a price-to-earnings ratio of -13.27 and a beta of 1.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 42.25. The stock has a 50-day moving average price of $18.06 and a 200 day moving average price of $24.87.

D-Wave Quantum (NYSE:QBTS) last announced its 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 net margin of 1,444.10% and a negative return on equity of 58.58%. The firm had revenue of $2.75 million during the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum’s revenue was up 21.7% on a year-over-year basis. As a group, analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Transactions at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction that occurred 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 sale, the director owned 19,803 shares of the company’s stock, valued at approximately $356,652.03. This trade represents a 28.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $17.62, for a total value of $176,200.00. Following the completion of the sale, the director directly owned 27,778 shares in the company, valued at approximately $489,448.36. This represents a 26.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 72,898 shares of company stock worth $1,749,054 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently bought and sold shares of QBTS. Baird Financial Group Inc. raised its position in 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 buying an additional 1,300 shares during the last quarter. Royal Bank of Canada increased its position in shares of 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 purchasing an additional 60,668 shares during the last quarter. AQR Capital Management LLC increased its position in shares of 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 purchasing an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 52,437 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of 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 purchasing an additional 24,382 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

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.