D-Wave Quantum (NYSE:QBTS) CFO Sells $257,562.74 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 9,179 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total transaction of $257,562.74. Following the completion of the sale, the chief financial officer directly owned 1,462,133 shares in the company, valued at $41,027,451.98. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS traded down $1.40 during trading on Thursday, reaching $28.75. The stock had a trading volume of 43,498,854 shares, compared to its average volume of 40,024,453. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. The stock has a market cap of $10.07 billion, a PE ratio of -21.30 and a beta of 1.57. D-Wave Quantum Inc. has a one year low of $4.45 and a one year high of $46.75. The firm’s 50 day moving average price is $26.22 and its two-hundred day moving average price is $23.89.

D-Wave Quantum (NYSE:QBTS) last released 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. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The company’s revenue for the quarter was up 105.6% on a year-over-year basis. On average, research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

A number of large investors have recently added to or reduced their stakes in QBTS. Archford Capital Strategies LLC bought a new position in shares of D-Wave Quantum in the fourth quarter worth about $201,000. Spirit of America Management Corp NY acquired a new stake in D-Wave Quantum in the 4th quarter valued at approximately $92,000. Allspring Global Investments Holdings LLC increased its position in D-Wave Quantum by 44.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,549 shares of the company’s stock worth $662,000 after buying an additional 7,270 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of D-Wave Quantum by 39.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 58,183 shares of the company’s stock worth $1,521,000 after buying an additional 16,363 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of D-Wave Quantum by 853.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 33,859 shares of the company’s stock valued at $885,000 after acquiring an additional 30,306 shares during the period. Institutional investors own 42.47% of the company’s stock.

Analyst Upgrades and Downgrades

QBTS has been the topic of several recent analyst reports. Cantor Fitzgerald lifted their target price on D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. B. Riley lifted their target price on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Wall Street Zen upgraded shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Roth Capital set a $40.00 price objective on D-Wave Quantum in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday, December 29th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Moderate Buy” and a consensus target price of $33.67.

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.