D-Wave Quantum (NYSE:QBTS) Raised to Hold at Zacks Research

D-Wave Quantum (NYSE:QBTS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald lifted their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a report on Friday. Wall Street Zen raised shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday. Rosenblatt Securities upped their price objective on shares of D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus started coverage on D-Wave Quantum in a research report on Tuesday, August 5th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Roth Capital set a $40.00 price target on D-Wave Quantum in a research note on Thursday. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.17.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS traded up $1.17 during trading on Thursday, reaching $29.56. 50,445,076 shares of the company traded hands, compared to its average volume of 58,118,144. The stock has a market cap of $10.11 billion, a P/E ratio of -21.89 and a beta of 1.53. The firm’s fifty day simple moving average is $28.10 and its 200 day simple moving average is $19.56. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. D-Wave Quantum has a 12-month low of $1.39 and a 12-month high of $46.75.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 124.07% and a negative net margin of 1,651.81%.The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. The firm’s revenue for the quarter was up 105.6% on a year-over-year basis. As a group, research analysts anticipate that D-Wave Quantum will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at D-Wave Quantum

In related news, CFO John M. Markovich sold 7,994 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 1,580,934 shares of the company’s stock, valued at approximately $69,150,053.16. This represents a 0.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 31,369 shares of the firm’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $43.74, for a total value of $1,372,080.06. Following the completion of the transaction, the chief executive officer owned 2,801,265 shares in the company, valued at $122,527,331.10. The trade was a 1.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 207,363 shares of company stock valued at $4,659,478 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On D-Wave Quantum

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of D-Wave Quantum by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after buying an additional 482 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in shares of D-Wave Quantum by 5.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock valued at $245,000 after purchasing an additional 500 shares during the period. bLong Financial LLC grew its stake in shares of D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock worth $361,000 after acquiring an additional 551 shares in the last quarter. Capital Advisory Group Advisory Services LLC grew its stake in D-Wave Quantum by 3.0% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company’s stock worth $325,000 after purchasing an additional 646 shares in the last quarter. Finally, Center for Financial Planning Inc. increased its stake in shares of D-Wave Quantum by 23.6% during the second quarter. Center for Financial Planning Inc. now owns 3,645 shares of the company’s stock worth $53,000 after buying an additional 695 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Company Profile

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.