D-Wave Quantum (NYSE:QBTS) Shares Down 1.8% – Here’s What Happened

Shares of D-Wave Quantum Inc. (NYSE:QBTS) traded down 1.8% on Friday . The stock traded as low as $22.86 and last traded at $23.40. 27,743,388 shares traded hands during trading, a decline of 14% from the average session volume of 32,306,320 shares. The stock had previously closed at $23.82.

Trending Headlines about D-Wave Quantum

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

• Positive Sentiment: D-Wave is pushing deeper into new commercial use cases, including a live quantum-classical testnet with Postquant Labs and reported early gains in drug discovery work with Shionogi, which supports the bull case for longer-term revenue growth. Are AI and Blockchain Shaping D-Wave’s Next Growth Phase?
• Positive Sentiment: Analysts remain constructive, with Rosenblatt reaffirming a Buy rating and a $43 price target, suggesting Wall Street still sees meaningful upside from current levels. D-Wave Quantum (QBTS) Stock Valuation Gap Weighs Long-Term Momentum Against Recent Weakness
• Positive Sentiment: Broader coverage around governments accelerating quantum spending and enterprise adoption is keeping attention on the sector and could help sentiment toward quantum leaders like QBTS. The Quantum Race Is Heating Up, and Governments Worldwide Are Buying In
• Neutral Sentiment: CEO Alan Baratz discussed D-Wave’s quantum roadmap and enterprise adoption on NYSE Live, reinforcing the company’s long-term narrative but without a clear near-term financial catalyst. D-Wave CEO Dr. Alan Baratz Details the Quantum Roadmap and Enterprise Adoption
• Negative Sentiment: Insider selling is pressuring sentiment, especially after a large sale by CEO Alan Baratz and additional sales disclosed by CFO John Markovich, which may make investors question near-term confidence. Alan Baratz Sells 687,627 Shares of D-Wave Quantum (NYSE:QBTS) Stock
• Negative Sentiment: Commentary also points to a stretched valuation after the stock’s big run, with some investors wary that recent gains already price in a lot of future quantum optimism. D-Wave Quantum (QBTS) Stock Valuation Gap Weighs Long-Term Momentum Against Recent Weakness

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. B. Riley Financial boosted their price target on shares of D-Wave Quantum from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Northland Securities started coverage on shares of D-Wave Quantum in a research report on Monday, April 20th. They issued a “market perform” rating and a $22.00 target price on the stock. Stifel Nicolaus set a $35.00 target price on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 target price on shares of D-Wave Quantum in a research report on Wednesday, May 13th. Finally, Canaccord Genuity Group decreased their target price on shares of D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.40.

D-Wave Quantum Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31. The company has a market capitalization of $8.66 billion, a PE ratio of -20.71 and a beta of 2.05. The stock’s 50 day simple moving average is $21.71 and its 200-day simple moving average is $22.27.

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

Insider Activity at D-Wave Quantum

In related news, CEO Alan E. Baratz sold 687,627 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the sale, the chief executive officer directly owned 3,299,771 shares in the company, valued at approximately $86,223,016.23. This represents a 17.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John D. Dilullo sold 7,850 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.43, for a total transaction of $191,775.50. Following the sale, the director owned 21,310 shares in the company, valued at $520,603.30. The trade was a 26.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,114,281 shares of company stock valued at $29,374,353. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On D-Wave Quantum

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC boosted its holdings in D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after purchasing an additional 776 shares in the last quarter. Parallel Advisors LLC boosted its holdings in D-Wave Quantum by 545.5% in the first quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock valued at $26,000 after purchasing an additional 1,511 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in D-Wave Quantum in the fourth quarter valued at approximately $28,000. PeakShares LLC acquired a new position in D-Wave Quantum in the first quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of D-Wave Quantum by 267.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after acquiring an additional 838 shares during the period. 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.