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

Shares of D-Wave Quantum Inc. (NYSE:QBTS) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and fourteen have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $36.50.

Several analysts recently weighed in on QBTS shares. Evercore assumed coverage on D-Wave Quantum in a report on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $35.00 target price on shares of D-Wave Quantum in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday, December 29th. Roth Mkm dropped their price target on 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. Finally, Needham & Company LLC reduced their price objective on D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th.

Insider Buying and Selling at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of the business’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 sale, the director owned 19,803 shares of the company’s stock, valued at $356,652.03. This represents a 28.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. Following the sale, the director owned 27,778 shares in the company, valued at approximately $489,448.36. This trade represents a 26.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 72,898 shares of company stock valued at $1,749,054 over the last three months. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors have recently made changes to their positions in QBTS. Root Financial Partners LLC lifted its holdings in shares of D-Wave Quantum by 388.0% in the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after purchasing an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in D-Wave Quantum during the 4th quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in D-Wave Quantum by 267.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $30,000 after buying an additional 838 shares during the period. Ancora Advisors LLC acquired a new stake in D-Wave Quantum in the third quarter worth $30,000. Finally, Financial Consulate Inc. bought a new stake in D-Wave Quantum in the third quarter valued at $31,000. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Trading Up 4.6%

NYSE QBTS opened at $16.45 on Tuesday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of -14.96 and a beta of 1.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 42.25. D-Wave Quantum has a 12 month low of $5.77 and a 12 month high of $46.75. The company’s fifty day moving average price is $20.90 and its two-hundred day moving average price is $25.22.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The company had revenue of $2.75 million during the quarter, compared to the consensus estimate of $3.74 million. D-Wave Quantum’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, research analysts predict that D-Wave Quantum will post -0.41 earnings per share for the current fiscal year.

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.