D-Wave Quantum (NYSE:QBTS) Shares Down 1.4% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s share price fell 1.4% on Monday . The company traded as low as $20.03 and last traded at $20.9150. 28,502,713 shares were traded during mid-day trading, a decline of 26% from the average session volume of 38,508,844 shares. The stock had previously closed at $21.22.

Analyst Ratings Changes

QBTS has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of D-Wave Quantum in a research report on Thursday. Williams Trading set a $35.00 price target on D-Wave Quantum in a research report on Monday, November 10th. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a research note on Monday, December 29th. Finally, Cantor Fitzgerald lifted their price target on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Thirteen 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.21.

D-Wave Quantum Stock Performance

The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $26.44 and a two-hundred day moving average price of $24.78. The firm has a market cap of $7.73 billion, a PE ratio of -15.49 and a beta of 1.56.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly 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. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The firm’s revenue was up 105.6% compared to the same quarter last year. Research analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Transactions at D-Wave Quantum

In related news, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $917,249.84. The trade was a 20.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO John M. Markovich sold 200,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $22.94, for a total transaction of $4,588,000.00. Following the completion of the sale, the chief financial officer owned 1,482,874 shares of the company’s stock, valued at approximately $34,017,129.56. The trade was a 11.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,346,916 shares of company stock valued at $65,591,314. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings 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 worth $46,000 after buying an additional 482 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its position in 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 worth $245,000 after acquiring an additional 500 shares during the period. Huntington National Bank increased its stake in D-Wave Quantum by 17.9% during the third quarter. Huntington National Bank now owns 3,300 shares of the company’s stock worth $82,000 after acquiring an additional 500 shares during the last quarter. bLong Financial LLC raised its position in D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after purchasing an additional 551 shares during the period. Finally, Sigma Planning Corp raised its position in D-Wave Quantum by 3.6% in the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock valued at $431,000 after purchasing an additional 560 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Company Profile

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.