D-Wave Quantum (NYSE:QBTS) Shares Up 3.3% – What’s Next?

by · The Cerbat Gem

D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report)’s stock price rose 3.3% during trading on Monday . The company traded as high as $26.76 and last traded at $26.1350. Approximately 32,072,717 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 60,160,523 shares. The stock had previously closed at $25.29.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho initiated coverage on D-Wave Quantum in a research note on Thursday, December 11th. They issued an “outperform” rating and a $46.00 price target on the stock. Wedbush assumed 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. Williams Trading set a $35.00 target price on shares of D-Wave Quantum in a report on Monday, November 10th. Benchmark upped their price target on shares of D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

Read Our Latest Stock Report on D-Wave Quantum

D-Wave Quantum Trading Down 0.6%

The stock has a market capitalization of $9.14 billion, a PE ratio of -19.33 and a beta of 1.57. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average is $27.05 and its two-hundred day moving average is $22.89.

D-Wave Quantum (NYSE:QBTS – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The company’s quarterly revenue was up 105.6% on a year-over-year basis. On average, analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO John M. Markovich sold 100,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the sale, the chief financial officer owned 1,471,312 shares in the company, valued at $44,183,499.36. This trade represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan E. Baratz sold 793,712 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $30.13, for a total transaction of $23,914,542.56. Following the completion of the transaction, the chief executive officer owned 2,633,163 shares of the company’s stock, valued at $79,337,201.19. This trade represents a 23.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,342,087 shares of company stock valued at $66,073,024 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Trading of D-Wave Quantum

Hedge funds and other institutional investors have recently modified their holdings of the business. Ancora Advisors LLC purchased a new position in D-Wave Quantum in the third quarter valued at about $30,000. Financial Consulate Inc. acquired a new position in shares of D-Wave Quantum in the 3rd quarter valued at approximately $31,000. Kelleher Financial Advisors purchased a new position in shares of D-Wave Quantum during the 3rd quarter valued at approximately $40,000. Larson Financial Group LLC grew its position in shares of D-Wave Quantum by 1,754.0% during the third quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock worth $46,000 after buying an additional 1,754 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of D-Wave Quantum by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock worth $46,000 after buying an additional 482 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Company Profile

(Get Free Report)

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.

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