D-Wave Quantum (NASDAQ:QBTS) Director John Dilullo Sells 1,100 Shares of Stock

D-Wave Quantum Inc. (NASDAQ:QBTS) Director John Dilullo sold 1,100 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.00, for a total value of $19,800.00. Following the sale, the director directly owned 20,210 shares in the company, valued at $363,780. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Stock Performance

NASDAQ QBTS traded down $0.55 during trading hours on Wednesday, hitting $17.12. The company’s stock had a trading volume of 15,912,159 shares, compared to its average volume of 27,986,992. D-Wave Quantum Inc. has a 12 month low of $12.75 and a 12 month high of $46.75. The company’s 50 day simple moving average is $19.04 and its two-hundred day simple moving average is $20.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42. The company has a market cap of $6.33 billion, a P/E ratio of -24.11 and a beta of 2.15.

D-Wave Quantum (NASDAQ:QBTS) last posted its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $3.08 million for the quarter, compared to the consensus estimate of $4.03 million. D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. D-Wave Quantum’s revenue was down 0.6 on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.08) EPS. As a group, sell-side analysts expect that D-Wave Quantum Inc. will post -0.46 EPS for the current fiscal year.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: D-Wave finalized an agreement with the U.S. Department of Commerce for up to $100 million under the CHIPS and Science Act. The funding supports U.S.-based quantum research and manufacturing, while the government’s minority stake provides strategic validation and additional capital for D-Wave’s cash runway. D-Wave Quantum Finalizes Up To $100 Mln U.S. Funding Agreement; Shares Rise
• Positive Sentiment: The broader quantum sector has benefited from approximately $300 million in federal CHIPS funding for D-Wave, Rigetti and Quantinuum. The deals could accelerate development, strengthen domestic supply chains and improve investor confidence in quantum computing as a strategic technology. U.S. Gets Minority Stakes in D-Wave, Rigetti, Quantinuum in $300 Million CHIPS Act Funding Deal
• Neutral Sentiment: As part of the agreement, D-Wave issued 7.1 million shares to the Commerce Department. The equity financing reduces near-term funding pressure, but the added share count creates dilution for existing investors. D-Wave Issues 7.1M QBTS Shares to U.S. Government Under $100M CHIPS Deal
• Negative Sentiment: Quantum stocks broadly pulled back as expectations for another Federal Reserve rate move increased. Higher rates typically weigh on speculative, high-beta growth companies such as D-Wave by reducing the value investors place on distant future earnings. Quantum Stocks Fall as Rate-Hike Odds Climb
• Negative Sentiment: Analysts and financial commentary continue to flag D-Wave’s losses, weak revenue conversion and elevated valuation despite strong bookings and production adoption. A recent investor-law-firm investigation adds another layer of uncertainty. Rising Risks Overshadow D-Wave Quantum Booking

Analysts Set New Price Targets

QBTS has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 target price on shares of D-Wave Quantum in a research note on Wednesday, May 13th. Stifel Nicolaus set a $35.00 price target on D-Wave Quantum in a research note on Tuesday, June 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $43.00 price objective on shares of D-Wave Quantum in a report on Friday, August 7th. Canaccord Genuity Group set a $35.00 price objective on D-Wave Quantum in a research report on Thursday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QBTS. BlackRock Inc. bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at $795,206,000. UBS Group AG raised 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 purchasing an additional 10,205,427 shares during the period. California State Teachers Retirement System raised its holdings in D-Wave Quantum by 2,336.6% in the 2nd quarter. California State Teachers Retirement System now owns 9,922,576 shares of the company’s stock worth $238,043,000 after purchasing an additional 9,515,341 shares during the period. Geode Capital Management LLC lifted its position in D-Wave Quantum by 11.5% during the fourth quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company’s stock valued at $220,085,000 after purchasing an additional 866,405 shares in the last quarter. Finally, State Street Corp grew its holdings in D-Wave Quantum by 5.3% during the fourth quarter. State Street Corp now owns 7,707,085 shares of the company’s stock valued at $201,540,000 after purchasing an additional 385,809 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

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.