D-Wave Quantum (NYSE:QBTS) VP Sells $65,544.50 in Stock

by · The Markets Daily

D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) VP Sophie Ames sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $21.35, for a total value of $65,544.50. Following the completion of the sale, the vice president owned 643,678 shares of the company’s stock, valued at $13,742,525.30. The trade was a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $19.31 on Friday. The business has a 50 day moving average of $17.48 and a 200 day moving average of $24.18. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of -17.55 and a beta of 1.78. D-Wave Quantum Inc. has a 1-year low of $6.52 and a 1-year high of $46.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 42.25.

D-Wave Quantum (NYSE:QBTS – Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The firm had revenue of $2.75 million during the quarter, compared to the consensus estimate of $3.74 million. D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The business’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, sell-side analysts predict that D-Wave Quantum Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Friday, March 27th. Needham & Company LLC decreased their price objective on D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Roth Mkm decreased their price objective on D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wall Street Zen downgraded D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Canaccord Genuity Group set a $43.00 price objective on D-Wave Quantum in a report on Thursday, January 29th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, D-Wave Quantum currently has an average rating of “Moderate Buy” and an average target price of $35.53.

View Our Latest Analysis on D-Wave Quantum

Institutional Investors Weigh In On D-Wave Quantum

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 worth $950,220,000 after acquiring an additional 11,218,255 shares during the last quarter. UBS Group AG grew its holdings 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 worth $298,737,000 after acquiring an additional 10,205,427 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $220,085,000 after acquiring an additional 866,405 shares during the last quarter. State Street Corp grew its holdings 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 worth $201,540,000 after acquiring an additional 385,809 shares during the last quarter. Finally, Marex Group plc grew its holdings 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 worth $120,098,000 after acquiring an additional 1,966,500 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum News Summary

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

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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