Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) Director Sells 106,626 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Roger Biscay sold 106,626 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the completion of the transaction, the director now directly owns 14,260 shares of the company’s stock, valued at approximately $240,281. The trade was a 88.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Roger Biscay also recently made the following trade(s):

• On Thursday, May 22nd, Roger Biscay sold 96,521 shares of D-Wave Quantum stock. The shares were sold at an average price of $17.86, for a total transaction of $1,723,865.06.
• On Wednesday, May 21st, Roger Biscay sold 15,675 shares of D-Wave Quantum stock. The shares were sold at an average price of $16.58, for a total transaction of $259,891.50.

D-Wave Quantum Trading Up 1.2%

NYSE:QBTS opened at $15.74 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 20.73 and a quick ratio of 20.61. The firm has a 50-day moving average of $12.07 and a 200-day moving average of $8.50. The company has a market cap of $4.60 billion, a PE ratio of -26.23 and a beta of 1.49. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $19.77.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. As a group, equities research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fourth Dimension Wealth LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter worth about $26,000. PNC Financial Services Group Inc. purchased a new position in D-Wave Quantum during the fourth quarter worth about $38,000. Russell Investments Group Ltd. boosted its holdings in D-Wave Quantum by 133.9% during the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after purchasing an additional 3,165 shares during the last quarter. Signaturefd LLC increased its stake in D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after buying an additional 2,971 shares during the last quarter. Finally, Amalgamated Bank increased its stake in D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock valued at $48,000 after buying an additional 3,266 shares during the last quarter. 42.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

QBTS has been the subject of several recent analyst reports. Roth Mkm increased their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC increased their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Roth Capital reiterated a “buy” rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Benchmark increased their price objective on shares of D-Wave Quantum from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, B. Riley increased their price objective on shares of D-Wave Quantum from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Buy” and a consensus target price of $12.50.

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.