D-Wave Quantum (NYSE:QBTS) Director Sells $218,880.00 in Stock

by · The Cerbat Gem

D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) Director John Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction on Friday, December 5th. The shares were sold at an average price of $27.36, for a total value of $218,880.00. Following the completion of the sale, the director directly owned 27,803 shares of the company’s stock, valued at $760,690.08. This trade represents a 22.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

D-Wave Quantum Trading Down 5.2%

Shares of QBTS opened at $26.87 on Thursday. The stock’s fifty day simple moving average is $29.76 and its 200-day simple moving average is $21.91. The firm has a market capitalization of $9.41 billion, a PE ratio of -19.90 and a beta of 1.57. D-Wave Quantum Inc. has a 12-month low of $3.71 and a 12-month high of $46.75. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05.

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

Wall Street Analyst Weigh In

QBTS has been the topic of a number of recent research reports. Benchmark raised their price objective on shares of D-Wave Quantum from $20.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Monday. B. Riley lifted their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Cantor Fitzgerald raised their target price on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.85.

Get Our Latest Report on D-Wave Quantum

Institutional Investors Weigh In On D-Wave Quantum

Several large investors have recently modified their holdings of QBTS. GAMMA Investing LLC raised its position in D-Wave Quantum by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after buying an additional 482 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its stake in shares of D-Wave Quantum by 5.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock worth $245,000 after acquiring an additional 500 shares in the last quarter. Huntington National Bank grew its stake in shares of D-Wave Quantum by 17.9% during the 3rd quarter. Huntington National Bank now owns 3,300 shares of the company’s stock worth $82,000 after acquiring an additional 500 shares in the last quarter. bLong Financial LLC raised its holdings in shares of D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after purchasing an additional 551 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of D-Wave Quantum by 1.8% in the third quarter. Comerica Bank now owns 36,443 shares of the company’s stock worth $901,000 after purchasing an additional 643 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Company Profile

(Get Free Report)

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.

Further Reading