D-Wave Quantum (NYSE:QBTS) CEO Alan Baratz Sells 806,288 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz sold 806,288 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the transaction, the chief executive officer owned 2,801,265 shares of the company’s stock, valued at approximately $80,872,520.55. This trade represents a 22.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

D-Wave Quantum Trading Down 11.5%

QBTS stock opened at $23.36 on Friday. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12-month low of $1.41 and a 12-month high of $46.75. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of -17.30 and a beta of 1.53. The business’s 50-day moving average is $29.01 and its 200 day moving average is $20.11.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The company’s revenue was up 105.6% compared to the same quarter last year. On average, sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QBTS has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Stifel Nicolaus began coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They set a “buy” rating and a $26.00 target price for the company. B. Riley increased their target price on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Canaccord Genuity Group raised their price target on shares of D-Wave Quantum from $20.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Williams Trading set a $35.00 price target on shares of D-Wave Quantum in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, D-Wave Quantum presently has an average rating of “Moderate Buy” and an average price target of $28.67.

Institutional Trading of D-Wave Quantum

A number of hedge funds and other institutional investors have recently modified their holdings of QBTS. IFP Advisors Inc grew its stake in shares of D-Wave Quantum by 123.8% in the second quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock valued at $217,000 after buying an additional 8,194 shares in the last quarter. World Investment Advisors acquired a new position in D-Wave Quantum during the 2nd quarter worth about $190,000. Farther Finance Advisors LLC boosted its holdings in D-Wave Quantum by 491.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 16,321 shares of the company’s stock valued at $239,000 after acquiring an additional 13,561 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in D-Wave Quantum in the 2nd quarter valued at about $217,000. Finally, SBI Securities Co. Ltd. grew its position in D-Wave Quantum by 13.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 207,188 shares of the company’s stock valued at $3,033,000 after acquiring an additional 24,524 shares in the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.

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.