D-Wave Quantum Inc. (NYSE:QBTS) Given Consensus Rating of “Moderate Buy” by Brokerages

D-Wave Quantum Inc. (NYSE:QBTS) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $31.00.

Several research analysts recently weighed in on QBTS shares. Rosenblatt Securities lifted 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 note on Friday, November 7th. Mizuho assumed coverage on shares of D-Wave Quantum in a research report on Thursday. They set an “outperform” rating and a $46.00 price target on the stock. Williams Trading set a $35.00 price target on shares of D-Wave Quantum in a report on Monday, November 10th. Canaccord Genuity Group raised their price objective on D-Wave Quantum from $20.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Benchmark lifted their target price on D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 10th.

Insiders Place Their Bets

In related news, CEO Alan E. Baratz sold 806,288 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total value of $23,277,534.56. Following the completion of the transaction, the chief executive officer directly owned 2,801,265 shares in the company, valued at approximately $80,872,520.55. The trade was a 22.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John M. Markovich sold 200,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $22.94, for a total value of $4,588,000.00. Following the sale, the chief financial officer directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,444,813 shares of company stock worth $38,959,206. Company insiders own 3.20% of the company’s stock.

Institutional Trading of D-Wave Quantum

A number of institutional investors have recently made changes to their positions in QBTS. Ancora Advisors LLC acquired a new stake in D-Wave Quantum in the 3rd quarter valued at $30,000. Financial Consulate Inc. bought a new position in shares of D-Wave Quantum in the 3rd quarter valued at about $31,000. Kelleher Financial Advisors acquired a new stake in shares of D-Wave Quantum in the third quarter valued at about $40,000. Larson Financial Group LLC increased its position in shares of D-Wave Quantum by 1,754.0% in the third quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock valued at $46,000 after acquiring an additional 1,754 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in D-Wave Quantum by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock worth $46,000 after acquiring an additional 482 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Up 4.4%

Shares of D-Wave Quantum stock opened at $27.97 on Friday. The business has a fifty day simple moving average of $29.74 and a 200 day simple moving average of $21.96. The stock has a market cap of $9.79 billion, a PE ratio of -20.72 and a beta of 1.57. 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 has a 12 month low of $3.71 and a 12 month high of $46.75.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $3.74 million for 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 company’s revenue for the quarter was up 105.6% on a year-over-year basis. Research analysts predict that D-Wave Quantum will post -0.41 EPS for the current year.

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.