Rohit Ghai Sells 43,517 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Rohit Ghai sold 43,517 shares of D-Wave Quantum stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.80, for a total transaction of $731,085.60. Following the transaction, the director now owns 57,778 shares in the company, valued at approximately $970,670.40. This trade represents a 42.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

D-Wave Quantum Stock Performance

QBTS stock opened at $15.74 on Thursday. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $19.77. The company has a current ratio of 20.73, a quick ratio of 20.61 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $12.07 and a 200-day moving average price of $8.50. The firm has a market cap of $4.60 billion, a PE ratio of -26.23 and a beta of 1.49.

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

Institutional Trading of D-Wave Quantum

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in D-Wave Quantum by 58.5% during the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock worth $85,766,000 after acquiring an additional 4,166,721 shares in the last quarter. Bank of America Corp DE boosted its position in shares of D-Wave Quantum by 4,912.4% during the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock worth $21,404,000 after purchasing an additional 2,497,263 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of D-Wave Quantum by 80.1% during the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock worth $38,518,000 after purchasing an additional 2,253,741 shares in the last quarter. UNICOM Systems Inc. grew its stake in shares of D-Wave Quantum by 91.9% in the 1st quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock valued at $35,171,000 after buying an additional 2,216,000 shares during the period. Finally, Trexquant Investment LP bought a new stake in D-Wave Quantum in the 1st quarter valued at about $8,064,000. Institutional investors own 42.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QBTS. Benchmark increased their price objective on D-Wave Quantum from $14.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley increased their price target on D-Wave Quantum from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC lifted their price objective on D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Roth Mkm upped their target price on D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a report on Friday, June 13th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $12.50.

About D-Wave Quantum

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.