D-Wave Quantum Inc. (NYSE:QBTS) Receives Average Recommendation of “Moderate Buy” from Brokerages

D-Wave Quantum Inc. (NYSE:QBTS) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.6667.

QBTS has been the topic of a number of recent analyst reports. B. Riley lifted their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Rosenblatt Securities increased their price objective on shares of D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of D-Wave Quantum in a report on Tuesday, October 14th. Finally, Roth Capital set a $40.00 target price on D-Wave Quantum in a research report on Thursday, November 6th.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $23.05 on Wednesday. D-Wave Quantum has a 12-month low of $1.43 and a 12-month high of $46.75. The company has a market cap of $8.07 billion, a PE ratio of -17.07 and a beta of 1.53. The stock has a 50 day simple moving average of $29.46 and a 200-day simple moving average of $20.63. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum’s quarterly revenue was up 105.6% on a year-over-year basis. On average, equities research analysts forecast that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Transactions at D-Wave Quantum

In related news, CEO Alan E. Baratz sold 168,102 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the completion of the transaction, the chief executive officer owned 2,633,163 shares of the company’s stock, valued at $61,010,386.71. This trade represents a 6.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director owned 36,295 shares in the company, valued at approximately $650,769.35. This trade represents a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,179,813 shares of company stock worth $32,303,986. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of D-Wave Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Reyes Financial Architecture Inc. bought a new position in shares of D-Wave Quantum in the second quarter valued at $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of D-Wave Quantum during the second quarter worth $29,000. Ancora Advisors LLC acquired a new stake in shares of D-Wave Quantum during the third quarter worth $30,000. Financial Consulate Inc. purchased a new stake in shares of D-Wave Quantum during the third quarter valued at $31,000. Finally, Parallel Advisors LLC boosted its position in shares of D-Wave Quantum by 227.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after purchasing an additional 1,532 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

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.