D-Wave Quantum (NYSE:QBTS) Director Sells $357,010.38 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Rohit Ghai sold 13,518 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $26.41, for a total value of $357,010.38. Following the transaction, the director directly owned 23,617 shares in the company, valued at $623,724.97. This trade represents a 36.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $24.65 on Friday. The business’s 50-day simple moving average is $22.53 and its 200 day simple moving average is $22.32. The company has a quick ratio of 21.31, a current ratio of 21.41 and a debt-to-equity ratio of 0.03. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of -21.82 and a beta of 2.05. D-Wave Quantum Inc. has a 12-month low of $12.75 and a 12-month high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm 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%.The company’s quarterly revenue was down 80.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. As a group, research analysts anticipate that D-Wave Quantum Inc. will post -0.43 earnings per share for the current year.

More D-Wave Quantum News

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

• Positive Sentiment: D-Wave announced the world’s first gate-model quantum computing simulator for error-aware programming, a product that could help developers build more reliable quantum applications and support its push into commercial gate-model computing. Article Title
• Positive Sentiment: The company also said it secured up to $100 million in CHIPS Act-related backing and outlined a roadmap toward 100 logical qubits by 2032, which investors may view as validation of its federal support and future R&D pipeline. Article Title
• Positive Sentiment: Analyst sentiment remains constructive, with recent price-target increases from firms including Mizuho, Roth MKM, and B. Riley reinforcing the view that QBTS may still have upside if execution improves. Article Title
• Neutral Sentiment: Commentary continues to frame D-Wave as a leading pure-play quantum stock, but also notes that the valuation is demanding and leaves little room for disappointment. Article Title
• Negative Sentiment: Recent SEC filings showed director Rohit Ghai sold shares under a pre-arranged trading plan, which can weigh on sentiment even if the sale was not driven by a negative outlook. Article Title
• Negative Sentiment: Some traders appear to be taking profits after a sharp sector rally, which has created volatility across quantum-computing names and may limit follow-through gains in QBTS. Article Title

Analysts Set New Price Targets

A number of brokerages have issued reports on QBTS. Northland Securities initiated coverage on shares of D-Wave Quantum in a research note on Monday, April 20th. They issued a “market perform” rating and a $22.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $43.00 target price on shares of D-Wave Quantum in a research report on Thursday, June 11th. Weiss Ratings downgraded D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Fourteen 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Hedge Funds Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently made changes to their positions in QBTS. Baird Financial Group Inc. grew its holdings in shares of D-Wave Quantum by 12.0% in the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock valued at $92,000 after buying an additional 1,300 shares during the period. Royal Bank of Canada increased its position in shares of D-Wave Quantum by 59.8% in the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after buying an additional 60,668 shares in the last quarter. AQR Capital Management LLC raised its stake in D-Wave Quantum by 201.0% during the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock worth $1,526,000 after buying an additional 134,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in D-Wave Quantum by 93.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after buying an additional 52,437 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in D-Wave Quantum by 125.7% during the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after acquiring an additional 24,382 shares in the last quarter. 42.47% of the stock is owned by institutional investors.

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.