D-Wave Quantum (NYSE:QBTS – Get Free Report) is expected to be releasing its earnings data before the market opens on Thursday, March 13th. Analysts expect D-Wave Quantum to post earnings of ($0.09) per share and revenue of $2.23 million for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.
D-Wave Quantum Trading Up 16.1 %
Shares of QBTS stock opened at $5.38 on Wednesday. The stock has a market cap of $1.45 billion, a P/E ratio of -12.80 and a beta of 1.12. The stock has a 50 day simple moving average of $6.15 and a 200 day simple moving average of $3.76. D-Wave Quantum has a 1 year low of $0.75 and a 1 year high of $11.41.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on QBTS. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Roth Mkm boosted their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Craig Hallum boosted their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, B. Riley boosted their price objective on shares of D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.71.
Insider Transactions at D-Wave Quantum
In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the sale, the insider now directly owns 1,000,000 shares in the company, valued at $4,210,000. This represents a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the sale, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,508,799 shares of company stock worth $88,960,447. Corporate insiders own 7.22% of the company’s stock.
D-Wave Quantum Company Profile
D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.
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