D-Wave Quantum (NYSE:QBTS) VP Sophie Ames Sells 23,025 Shares

D-Wave Quantum Inc. (NYSE:QBTS) VP Sophie Ames sold 23,025 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $18.98, for a total value of $437,014.50. Following the transaction, the vice president directly owned 596,803 shares in the company, valued at approximately $11,327,320.94. The trade was a 3.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Stock Performance

NYSE QBTS traded up $6.47 on Thursday, reaching $25.77. The stock had a trading volume of 116,133,510 shares, compared to its average volume of 30,302,361. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. D-Wave Quantum Inc. has a 12-month low of $12.75 and a 12-month high of $46.75. The business’s 50-day moving average price is $18.06 and its 200 day moving average price is $22.24. The stock has a market cap of $9.53 billion, a P/E ratio of -22.81 and a beta of 1.95.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The company had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The firm’s revenue for the quarter was down 80.9% on a year-over-year basis. As a group, equities analysts expect that D-Wave Quantum Inc. will post -0.44 earnings per share for the current year.

Analysts Set New Price Targets

QBTS has been the topic of several research reports. Northland Securities initiated coverage on shares of D-Wave Quantum in a research report on Monday, April 20th. They set a “market perform” rating and a $22.00 price objective on the stock. Roth Mkm lowered their price objective on shares of D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Canaccord Genuity Group lowered their price objective on shares of D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Mizuho reduced their price objective on D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a research note on Wednesday, May 13th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank raised its holdings 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 purchasing an additional 500 shares in the last quarter. Sigma Planning Corp raised its holdings in D-Wave Quantum by 3.6% during the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock worth $431,000 after purchasing an additional 560 shares in the last quarter. AlphaStar Capital Management LLC raised its holdings in D-Wave Quantum by 2.2% during the fourth quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company’s stock worth $708,000 after purchasing an additional 592 shares in the last quarter. Noble Wealth Management PBC raised its holdings in D-Wave Quantum by 6.7% during the fourth quarter. Noble Wealth Management PBC now owns 9,600 shares of the company’s stock worth $251,000 after purchasing an additional 600 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its holdings in D-Wave Quantum by 0.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company’s stock worth $3,447,000 after purchasing an additional 602 shares in the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting D-Wave Quantum

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

• Positive Sentiment: D-Wave signed a Letter of Intent with the U.S. Department of Commerce for up to $100 million in proposed CHIPS and Science Act funding, which could help accelerate U.S. quantum-computing development and support D-Wave’s scaling efforts. Article Title
• Positive Sentiment: Reports that Washington is preparing a broader $2 billion quantum funding package for nine quantum companies lifted sentiment across the entire group, including QBTS, as investors bet on government-backed demand and industry validation. Article Title
• Positive Sentiment: Several market reports noted that quantum stocks were breaking out after news of possible government stakes, with D-Wave among the biggest gainers as traders rotated into the theme. Article Title
• Positive Sentiment: Unusually heavy options activity in QBTS call contracts suggests traders are positioning for more upside, reinforcing the bullish move. Article Title
• Neutral Sentiment: Broader tech stocks were also firmer during the session, which may have added some tailwind to QBTS but was not the main driver. Article Title
• Negative Sentiment: Investors should note that D-Wave still has weak profitability and depends heavily on future commercialization; recent coverage highlighted strong revenue growth, but also ongoing losses and execution risk. Article Title

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.