D-Wave Quantum (NASDAQ:QBTS) Stock Price Down 5.7% – Time to Sell?

Shares of D-Wave Quantum Inc. (NASDAQ:QBTS) fell 5.7% on Monday. The company traded as low as $13.73 and last traded at $13.74. Approximately 13,895,092 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 26,485,088 shares. The stock had previously closed at $14.57.

More D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave extended its manufacturing partnership with SkyWater Technology through a multi-year agreement. The deal is intended to secure specialized semiconductor fabrication for future superconducting quantum processors, while also incorporating intellectual-property protections and using D-Wave’s technology to improve SkyWater’s manufacturing operations. D-Wave Quantum, SkyWater Extend Quantum Chip Manufacturing Partnership to Include IP Protection
• Positive Sentiment: The agreement provides D-Wave with longer-term access to U.S.-based foundry capacity, potentially supporting the development and production of more advanced quantum systems. The partnership is a commercialization and supply-chain catalyst, although the immediate financial impact was not disclosed. What Does D Wave Quantum Multi Year Manufacturing Deal Change?

Wall Street Analyst Weigh In

QBTS has been the topic of several research reports. Wall Street Zen upgraded shares of D-Wave Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Benchmark initiated coverage on shares of D-Wave Quantum in a research note on Monday, July 27th. They set a “buy” rating and a $30.00 price objective for the company. BMO Capital Markets began coverage on shares of D-Wave Quantum in a report on Thursday, August 20th. They issued an “outperform” rating and a $35.00 price objective on the stock. Weiss Ratings raised shares of D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 28th. Finally, Jefferies Financial Group set a $40.00 price objective on shares of D-Wave Quantum in a research note on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.27.

D-Wave Quantum Trading Down 10.1%

The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.45 billion, a PE ratio of -16.94 and a beta of 2.18. The company has a 50-day simple moving average of $17.58 and a 200 day simple moving average of $19.73.

D-Wave Quantum (NASDAQ:QBTS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $4.03 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The firm’s quarterly revenue was down 0.6 compared to the same quarter last year. As a group, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Sophie Ames sold 3,070 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $16.95, for a total value of $52,036.50. Following the completion of the transaction, the vice president owned 589,009 shares of the company’s stock, valued at approximately $9,983,702.55. This represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company’s stock.

Institutional Trading of D-Wave Quantum

Several institutional investors have recently bought and sold shares of the business. Fiduciary Financial Advisors acquired a new stake in shares of D-Wave Quantum in the second quarter valued at about $25,000. Ancora Advisors LLC acquired a new position in D-Wave Quantum during the second quarter worth about $39,000. Kelleher Financial Advisors acquired a new position in D-Wave Quantum during the second quarter worth about $39,000. Adirondack Trust Co. boosted its position in D-Wave Quantum by 267.3% during the third quarter. Adirondack Trust Co. now owns 1,649 shares of the company’s stock worth $27,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in D-Wave Quantum by 545.5% during the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock valued at $26,000 after acquiring an additional 1,511 shares in the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Company Profile

D-Wave Quantum Inc is a quantum-computing company that develops and delivers quantum systems, software and cloud-based services for commercial, government and research customers. The company focuses on quantum annealing, an approach designed to address complex optimization problems, and is also developing gate-model quantum-computing capabilities.

Its offerings include D-Wave quantum computers, the Leap quantum cloud service, and the Ocean software development kit. Through these products, customers can access quantum hardware, build and test applications, and combine quantum processing with classical computing through hybrid solvers.