D-Wave Quantum (NYSE:QBTS) CFO Sells $349,657.56 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 7,994 shares of D-Wave Quantum stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $43.74, for a total value of $349,657.56. Following the sale, the chief financial officer owned 1,580,934 shares in the company, valued at $69,150,053.16. This represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

D-Wave Quantum Price Performance

QBTS stock opened at $38.22 on Friday. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 52-week low of $0.98 and a 52-week high of $46.75. The stock’s 50 day moving average is $23.32 and its two-hundred day moving average is $16.84. The company has a market capitalization of $13.07 billion, a PE ratio of -36.40 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The business had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.55 million. The business’s revenue was up 40.9% on a year-over-year basis. Analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oak Harvest Investment Services boosted its position in D-Wave Quantum by 175.0% during the 3rd quarter. Oak Harvest Investment Services now owns 27,500 shares of the company’s stock valued at $680,000 after purchasing an additional 17,500 shares during the period. Sowell Financial Services LLC acquired a new position in D-Wave Quantum during the 3rd quarter valued at approximately $414,000. Nvwm LLC acquired a new position in D-Wave Quantum during the 3rd quarter valued at approximately $52,000. HBK Sorce Advisory LLC acquired a new position in D-Wave Quantum during the 3rd quarter valued at approximately $153,000. Finally, Capital Advisors Wealth Management LLC acquired a new position in D-Wave Quantum during the 3rd quarter valued at approximately $377,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on QBTS. Cantor Fitzgerald started coverage on D-Wave Quantum in a report on Wednesday, July 2nd. They set an “overweight” rating and a $20.00 price objective on the stock. 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 research report on Monday, September 22nd. Stifel Nicolaus started coverage on D-Wave Quantum in a research report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 target price for the company. Zacks Research lowered D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Finally, Piper Sandler lifted their target price on D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.27.

About D-Wave Quantum

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.