John Dilullo Sells 7,850 Shares of D-Wave Quantum (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 7,850 shares of D-Wave Quantum stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.43, for a total transaction of $191,775.50. Following the completion of the sale, the director directly owned 21,310 shares in the company, valued at $520,603.30. This represents a 26.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $23.53 on Wednesday. The company’s fifty day moving average price is $21.12 and its 200 day moving average price is $22.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. The stock has a market capitalization of $8.70 billion, a P/E ratio of -20.82 and a beta of 2.05. D-Wave Quantum Inc. has a 1 year low of $12.75 and a 1 year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The business had revenue of $2.86 million for the quarter, compared to analyst estimates of $4.19 million. During the same quarter in the previous year, the firm earned ($0.02) EPS. The company’s quarterly revenue was down 80.9% compared to the same quarter last year. As a group, equities research analysts anticipate that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QBTS shares. Stifel Nicolaus set a $35.00 price objective on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Rosenblatt Securities restated a “buy” rating and issued a $43.00 price objective on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Weiss Ratings lowered shares of D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Roth Mkm boosted their price objective on shares of D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Northland Securities started coverage on shares of D-Wave Quantum in a report on Monday, April 20th. They issued a “market perform” rating and a $22.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

D-Wave Quantum News Summary

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

• Positive Sentiment: B. Riley raised its price target on D-Wave Quantum to $40 from $36 and kept a Buy rating, reinforcing a constructive Wall Street view on the stock. B. Riley is Bullish on D-Wave Quantum Inc. (QBTS)
• Positive Sentiment: Multiple recent articles cite upside potential for QBTS, with analyst targets implying meaningful gains if the quantum computing sector attracts fresh capital. 2 Quantum Stocks With 45%+ Upside in June as OpenAI, SpaceX Eye IPO
• Neutral Sentiment: Recent board and insider filings appear largely routine, including a director sale that was made under a pre-arranged 10b5-1 plan and an article noting routine RSU grants. John Dilullo Sells 7,850 Shares of D-Wave Quantum (NYSE:QBTS) Stock
• Negative Sentiment: Investor sentiment toward QBTS has weakened today as money moved out of speculative growth stocks, putting pressure on the valuation despite no major operational setback in the news. D-Wave Quantum Plummeted Today — Is the Stock a Buy Right Now?
• Negative Sentiment: One article argues that larger tech names like Intel and IBM are increasing quantum investments, which could make it harder for pure-play companies such as D-Wave to stand out. The Case for Intel Over Pure-Play Quantum Firms (QBTS)

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in D-Wave Quantum by 41.2% in the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock valued at $950,220,000 after acquiring an additional 11,218,255 shares in the last quarter. UBS Group AG grew its position in D-Wave Quantum by 541.6% in the 3rd quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after acquiring an additional 10,205,427 shares in the last quarter. Geode Capital Management LLC grew its position in D-Wave Quantum by 11.5% in the 4th quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company’s stock valued at $220,085,000 after acquiring an additional 866,405 shares in the last quarter. State Street Corp grew its position in D-Wave Quantum by 5.3% in the 4th quarter. State Street Corp now owns 7,707,085 shares of the company’s stock valued at $201,540,000 after acquiring an additional 385,809 shares in the last quarter. Finally, Marex Group plc grew its position in D-Wave Quantum by 74.9% in the 4th quarter. Marex Group plc now owns 4,592,656 shares of the company’s stock valued at $120,098,000 after acquiring an additional 1,966,500 shares in the last quarter. 42.47% of the stock is 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.