D-Wave Quantum (NYSE:QBTS) Rating Lowered to “Sell” at Wall Street Zen

D-Wave Quantum (NYSE:QBTS) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also issued reports on the stock. Canaccord Genuity Group set a $43.00 price target on shares of D-Wave Quantum in a report on Thursday, January 29th. Zacks Research upgraded shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Roth Mkm set a $40.00 price target on D-Wave Quantum in a report on Thursday, November 6th. Wedbush initiated coverage on D-Wave Quantum in a research report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on D-Wave Quantum in a research report on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, D-Wave Quantum has a consensus rating of “Moderate Buy” and an average target price of $38.21.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $20.70 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. D-Wave Quantum has a one year low of $4.45 and a one year high of $46.75. The firm has a market capitalization of $7.66 billion, a P/E ratio of -15.33 and a beta of 1.56. The business has a fifty day moving average price of $26.18 and a 200-day moving average price of $24.82.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The firm had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.03 million. The business’s revenue was up 105.6% compared to the same quarter last year. As a group, equities research analysts forecast that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Activity at D-Wave Quantum

In other news, CFO John M. Markovich sold 9,179 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total transaction of $257,562.74. Following the sale, the chief financial officer owned 1,462,133 shares in the company, valued at approximately $41,027,451.98. The trade was a 0.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Alan E. Baratz sold 35,013 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total transaction of $982,464.78. Following the completion of the sale, the chief executive officer directly owned 2,598,150 shares in the company, valued at $72,904,089. This represents a 1.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,346,916 shares of company stock valued at $65,591,314 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On D-Wave Quantum

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of D-Wave Quantum by 34.6% during the third quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after purchasing an additional 482 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its stake in shares of D-Wave Quantum by 5.3% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock worth $245,000 after buying an additional 500 shares during the last quarter. Huntington National Bank increased its position in D-Wave Quantum by 17.9% during the 3rd quarter. Huntington National Bank now owns 3,300 shares of the company’s stock valued at $82,000 after buying an additional 500 shares in the last quarter. bLong Financial LLC raised its stake in D-Wave Quantum by 2.3% during the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after buying an additional 551 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in D-Wave Quantum by 3.6% during the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock valued at $431,000 after buying an additional 560 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

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.