D-Wave Quantum Inc. (NYSE:QBTS) Receives Average Rating of “Moderate Buy” from Analysts

D-Wave Quantum Inc. (NYSE:QBTS) has received an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.6667.

Several research firms recently issued reports on QBTS. Benchmark upped their price objective on shares of D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Cantor Fitzgerald boosted their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Evercore ISI assumed coverage on shares of D-Wave Quantum in a report on Wednesday, December 3rd. They set an “outperform” rating and a $44.00 price target for the company. Wedbush began coverage on D-Wave Quantum in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, Williams Trading set a $35.00 price objective on D-Wave Quantum in a research report on Monday, November 10th.

D-Wave Quantum Stock Down 0.6%

Shares of QBTS stock opened at $26.10 on Thursday. The stock’s 50 day simple moving average is $27.03 and its 200 day simple moving average is $22.91. D-Wave Quantum has a twelve month low of $3.74 and a twelve month high of $46.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of -19.33 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS 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 company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. The business’s revenue for the quarter was up 105.6% on a year-over-year basis. As a group, research analysts predict that D-Wave Quantum will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John M. Markovich sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $22.94, for a total transaction of $4,588,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,482,874 shares in the company, valued at $34,017,129.56. The trade was a 11.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.28, for a total value of $242,800.00. Following the completion of the sale, the director directly owned 37,778 shares of the company’s stock, valued at $917,249.84. This represents a 20.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,342,087 shares of company stock valued at $66,073,024 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Trading of D-Wave Quantum

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in 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 in the last quarter. Blue Bell Private Wealth Management LLC lifted its position in shares of D-Wave Quantum by 5.3% during 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 period. Huntington National Bank boosted its stake in D-Wave Quantum by 17.9% in 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 grew its position in D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after acquiring an additional 551 shares during the period. Finally, Comerica Bank grew its position in D-Wave Quantum by 1.8% in the third quarter. Comerica Bank now owns 36,443 shares of the company’s stock valued at $901,000 after acquiring an additional 643 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

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.