D-Wave Quantum (NYSE:QBTS) Director Rohit Ghai Sells 10,000 Shares

D-Wave Quantum Inc. (NYSE:QBTS) Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the transaction, the director directly owned 37,778 shares of the company’s stock, valued at approximately $917,249.84. This trade represents a 20.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

D-Wave Quantum Stock Up 7.5%

QBTS stock opened at $25.52 on Wednesday. The stock has a market cap of $8.94 billion, a PE ratio of -18.91 and a beta of 1.58. The firm’s 50-day simple moving average is $29.18 and its 200 day simple moving average is $22.19. D-Wave Quantum Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $46.75. The company has a quick ratio of 54.49, a current ratio of 54.68 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, topping the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. The business’s revenue for the quarter was up 105.6% on a year-over-year basis. As a group, sell-side analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Institutional Trading of D-Wave Quantum

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of D-Wave Quantum by 41.2% during the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock valued at $950,220,000 after buying an additional 11,218,255 shares during the last quarter. UBS Group AG boosted its holdings in D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after purchasing an additional 10,205,427 shares in the last quarter. State Street Corp increased its position in D-Wave Quantum by 41.3% during the second quarter. State Street Corp now owns 6,648,395 shares of the company’s stock worth $97,333,000 after buying an additional 1,941,762 shares during the last quarter. Geode Capital Management LLC increased its position in D-Wave Quantum by 41.6% during the second quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock worth $93,877,000 after buying an additional 1,883,109 shares during the last quarter. Finally, Marex Group plc bought a new position in D-Wave Quantum during the second quarter valued at about $80,070,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush started coverage on shares of D-Wave Quantum in a research report on Wednesday. They issued an “outperform” rating on the stock. Canaccord Genuity Group increased their price objective on D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday. Finally, Mizuho began coverage on D-Wave Quantum in a research note on Thursday, December 11th. They issued an “outperform” rating and a $46.00 price target on the stock. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, D-Wave Quantum currently has an average rating of “Moderate Buy” and an average target price of $31.93.

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.