John Dilullo Sells 8,000 Shares of D-Wave Quantum (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 8,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $18.01, for a total transaction of $144,080.00. Following the completion of the transaction, the director directly owned 19,803 shares in the company, valued at $356,652.03. This represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

D-Wave Quantum Price Performance

NYSE:QBTS opened at $18.62 on Friday. D-Wave Quantum Inc. has a 12 month low of $4.49 and a 12 month high of $46.75. The stock has a 50 day moving average of $23.27 and a two-hundred day moving average of $25.00. The company has a current ratio of 42.38, a quick ratio of 54.49 and a debt-to-equity ratio of 0.04. The firm has a market cap of $6.89 billion, a P/E ratio of -16.93 and a beta of 1.61.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, February 26th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The firm had revenue of $2.75 million for the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. D-Wave Quantum’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on QBTS shares. Benchmark restated a “buy” rating and issued a $35.00 price objective on shares of D-Wave Quantum in a report on Friday, January 23rd. Canaccord Genuity Group set a $43.00 target price on shares of D-Wave Quantum in a report on Thursday, January 29th. Wedbush started coverage on shares of D-Wave Quantum in a research report on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 target price for the company. Williams Trading set a $35.00 price target on shares of D-Wave Quantum in a research note on Monday, November 10th. Finally, Rosenblatt Securities restated a “buy” rating and set a $43.00 price target on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in shares of D-Wave Quantum by 125.7% in the second quarter. Osaic Holdings Inc. now owns 247,004 shares of the company’s stock valued at $3,616,000 after purchasing an additional 137,549 shares in the last quarter. UNICOM Systems Inc. lifted its holdings in D-Wave Quantum by 12.1% during the 3rd quarter. UNICOM Systems Inc. now owns 3,121,346 shares of the company’s stock worth $77,128,000 after buying an additional 337,838 shares in the last quarter. Csenge Advisory Group lifted its holdings in D-Wave Quantum by 99.1% during the 3rd quarter. Csenge Advisory Group now owns 35,886 shares of the company’s stock worth $887,000 after buying an additional 17,860 shares in the last quarter. World Investment Advisors purchased a new position in D-Wave Quantum in the 2nd quarter valued at approximately $190,000. Finally, Mutual Advisors LLC purchased a new position in D-Wave Quantum in the 3rd quarter valued at approximately $1,069,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

About D-Wave Quantum

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.