D-Wave Quantum (NYSE:QBTS) CFO John Markovich Sells 50,979 Shares

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 50,979 shares of D-Wave Quantum stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $26.24, for a total value of $1,337,688.96. Following the transaction, the chief financial officer owned 1,388,933 shares of the company’s stock, valued at approximately $36,445,601.92. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

D-Wave Quantum Stock Performance

QBTS stock traded down $0.17 during trading on Wednesday, hitting $23.36. 20,703,271 shares of the company traded hands, compared to its average volume of 32,410,734. The stock’s 50-day simple moving average is $21.12 and its 200 day simple moving average is $22.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31. The company has a market cap of $8.64 billion, a PE ratio of -20.67 and a beta of 2.05. D-Wave Quantum Inc. has a 1 year low of $12.75 and a 1 year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.D-Wave Quantum’s quarterly revenue was down 80.9% on a year-over-year basis. During the same period last year, the business earned ($0.02) earnings per share. On average, equities analysts expect that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. TD Cowen initiated coverage on D-Wave Quantum in a research report on Thursday, February 12th. They issued a “buy” rating for the company. Rosenblatt Securities reiterated a “buy” rating and set a $43.00 price target on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Canaccord Genuity Group dropped their price target on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Mizuho dropped their price target on D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Fourteen equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

More D-Wave Quantum News

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

• Positive Sentiment: B. Riley remained bullish on D-Wave Quantum and raised its price target to $40 from $36, reinforcing the idea that Wall Street still sees meaningful upside. B. Riley is Bullish on D-Wave Quantum Inc. (QBTS)
• Positive Sentiment: Other analysts also remain constructive, with Rosenblatt reiterating a Buy rating and Canaccord, TD Cowen, and others continuing to back the stock, suggesting the longer-term quantum computing story is still intact. QBTS analyst and stock page
• Neutral Sentiment: One article highlighted that D-Wave has rewarded patient investors over time, but it also warned that recent buyers may be facing a difficult valuation reality after the stock’s strong rally. D-Wave Rewarded Patient Investors With 135% Gains but Recent Buyers Face a Brutal Reality
• Neutral Sentiment: Another piece said the stock’s decline reflected a rotation out of speculative growth names, rather than a company-specific negative development, which implies the move may be tied to market sentiment more than fundamentals. D-Wave Quantum Plummeted Today — Is the Stock a Buy Right Now?
• Negative Sentiment: Insider selling added some pressure: Director John Dilullo sold 7,850 shares in a pre-arranged 10b5-1 plan, which can still weigh on sentiment even when routine. John Dilullo Sells 7,850 Shares of D-Wave Quantum (NYSE:QBTS) Stock
• Negative Sentiment: Some commentary also argued that legacy tech players like Intel and IBM could be better positioned than pure-play quantum firms such as D-Wave, which may be tempering investor enthusiasm. The Case for Intel Over Pure-Play Quantum Firms (QBTS)

Hedge Funds Weigh In On D-Wave Quantum

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC boosted its stake in D-Wave Quantum by 388.0% during the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after buying an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in D-Wave Quantum during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC boosted its stake in D-Wave Quantum by 267.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $30,000 after buying an additional 838 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in D-Wave Quantum during the fourth quarter worth $31,000. Finally, Ancora Advisors LLC acquired a new position in D-Wave Quantum during the third quarter worth $30,000. Institutional investors and hedge funds 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.