D-Wave Quantum (NYSE:QBTS) CFO John Markovich Sells 10,706 Shares

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 10,706 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $17.63, for a total value of $188,746.78. Following the transaction, the chief financial officer owned 1,451,427 shares of the company’s stock, valued at $25,588,658.01. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

D-Wave Quantum Trading Up 0.2%

NYSE QBTS traded up $0.03 during trading on Tuesday, hitting $17.49. The stock had a trading volume of 17,479,090 shares, compared to its average volume of 30,750,637. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $6.47 billion, a PE ratio of -15.90 and a beta of 1.61. The firm has a 50 day moving average price of $22.20 and a 200 day moving average price of $25.19. D-Wave Quantum Inc. has a twelve month low of $5.77 and a twelve month high of $46.75.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) 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 business had revenue of $2.75 million for the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum’s revenue was up 21.7% compared to the same quarter last year. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on QBTS shares. Canaccord Genuity Group set a $43.00 price target on shares of D-Wave Quantum in a research report on Thursday, January 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Jefferies Financial Group started coverage on D-Wave Quantum in a research note on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $35.00 target price on shares of D-Wave Quantum in a report on Friday, January 23rd. Finally, Zacks Research cut D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research note on Friday, March 6th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, D-Wave Quantum presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QBTS. Baird Financial Group Inc. raised its position in shares of D-Wave Quantum by 12.0% during the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after acquiring an additional 1,300 shares in the last quarter. Royal Bank of Canada increased its stake in D-Wave Quantum by 59.8% in the first quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after purchasing an additional 60,668 shares during the last quarter. AQR Capital Management LLC raised its holdings in D-Wave Quantum by 201.0% during the first quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock worth $1,526,000 after purchasing an additional 134,066 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in D-Wave Quantum by 93.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after purchasing an additional 52,437 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of D-Wave Quantum by 125.7% during the 1st quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after buying an additional 24,382 shares during the last quarter. Hedge funds and other 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.