D-Wave Quantum (NYSE:QBTS) Stock Price Up 6.3% – Here’s Why
by Teresa Graham · The Cerbat GemShares of D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) rose 6.3% during mid-day trading on Wednesday . The stock traded as high as $19.45 and last traded at $19.3370. Approximately 21,670,208 shares were traded during trading, a decline of 26% from the average daily volume of 29,413,363 shares. The stock had previously closed at $18.19.
Trending Headlines about D-Wave Quantum
Here are the key news stories impacting D-Wave Quantum this week:
- Positive Sentiment: The biggest driver for QBTS is the reported U.S. government support for quantum computing, including a proposed $100 million CHIPS Act funding package for D-Wave, which investors view as a major validation of the company’s technology and growth prospects. Article Title
- Positive Sentiment: Broader headlines that the Trump administration is committing $2 billion to quantum firms have lifted the entire group, including D-Wave, as traders bet federal money could accelerate commercialization and industry adoption. Article Title
- Positive Sentiment: Quantum stocks continued to rally across the sector, with D-Wave included in a broader move that added billions in market value, reinforcing momentum-driven buying in QBTS. Article Title
- Neutral Sentiment: Trading activity has also been elevated, with unusually heavy call-option buying suggesting speculation remains strong, but this is more a sign of interest than a clear fundamental catalyst.
- Negative Sentiment: A vice president sold shares under a pre-arranged 10b5-1 plan, which may slightly weigh on sentiment even though the transaction does not necessarily signal concern about the business. Article Title
Wall Street Analysts Forecast Growth
QBTS has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of D-Wave Quantum in a report on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. Canaccord Genuity Group reduced their price objective on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Weiss Ratings cut D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $35.00 price objective on shares of D-Wave Quantum in a report on Friday, January 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.67.
Check Out Our Latest Stock Report on QBTS
D-Wave Quantum Stock Performance
The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of -25.78 and a beta of 1.95. The stock has a fifty day moving average price of $18.20 and a two-hundred day moving average price of $22.16. The company has a quick ratio of 21.31, a current ratio of 21.41 and a debt-to-equity ratio of 0.03.
D-Wave Quantum (NYSE:QBTS – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The business’s revenue for the quarter was down 80.9% compared to the same quarter last year. As a group, analysts forecast that D-Wave Quantum Inc. will post -0.44 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sophie C. Ames sold 23,025 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $18.98, for a total value of $437,014.50. Following the completion of the transaction, the vice president directly owned 596,803 shares of the company’s stock, valued at approximately $11,327,320.94. This trade represents a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 54,801 shares of company stock valued at $1,011,586. 3.20% of the stock is owned by insiders.
Institutional Investors Weigh In On D-Wave Quantum
Institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC boosted its position in shares of D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after buying an additional 776 shares during the period. Parallel Advisors LLC boosted its position in shares of D-Wave Quantum by 545.5% in the first quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock worth $26,000 after buying an additional 1,511 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of D-Wave Quantum in the fourth quarter worth about $28,000. PeakShares LLC purchased a new stake in shares of D-Wave Quantum in the first quarter worth about $29,000. Finally, EverSource Wealth Advisors LLC boosted its position 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 worth $30,000 after buying an additional 838 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.
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.