Insider Selling: D-Wave Quantum (NYSE:QBTS) CFO Sells $1,105,492.43 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 46,043 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $24.01, for a total value of $1,105,492.43. Following the sale, the chief financial officer owned 1,342,820 shares of the company’s stock, valued at approximately $32,241,108.20. The trade was a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

D-Wave Quantum Stock Performance

QBTS opened at $24.65 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. D-Wave Quantum Inc. has a 52-week low of $12.75 and a 52-week high of $46.75. The firm has a market cap of $9.12 billion, a P/E ratio of -21.82 and a beta of 2.05. The business’s fifty day moving average is $22.53 and its 200-day moving average is $22.32.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The business had revenue of $2.86 million during the quarter, compared to the consensus estimate of $4.19 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. D-Wave Quantum’s revenue for the quarter was down 80.9% compared to the same quarter last year. Sell-side analysts expect that D-Wave Quantum Inc. will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC lifted its stake in D-Wave Quantum by 388.0% in the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after purchasing an additional 776 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of D-Wave Quantum by 545.5% during the first quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock worth $26,000 after buying an additional 1,511 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of D-Wave Quantum during the fourth quarter worth $28,000. PeakShares LLC acquired a new position in shares of D-Wave Quantum during the first quarter worth $29,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of D-Wave Quantum by 267.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $30,000 after buying an additional 838 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Stifel Nicolaus set a $35.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Weiss Ratings cut D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group cut their target price on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Northland Securities assumed coverage on D-Wave Quantum in a report on Monday, April 20th. They issued a “market perform” rating and a $22.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.80.

More D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave announced the world’s first gate-model quantum computing simulator for error-aware programming, a product that could help developers build more reliable quantum applications and support its push into commercial gate-model computing. Article Title
• Positive Sentiment: The company also said it secured up to $100 million in CHIPS Act-related backing and outlined a roadmap toward 100 logical qubits by 2032, which investors may view as validation of its federal support and future R&D pipeline. Article Title
• Positive Sentiment: Analyst sentiment remains constructive, with recent price-target increases from firms including Mizuho, Roth MKM, and B. Riley reinforcing the view that QBTS may still have upside if execution improves. Article Title
• Neutral Sentiment: Commentary continues to frame D-Wave as a leading pure-play quantum stock, but also notes that the valuation is demanding and leaves little room for disappointment. Article Title
• Negative Sentiment: Recent SEC filings showed director Rohit Ghai sold shares under a pre-arranged trading plan, which can weigh on sentiment even if the sale was not driven by a negative outlook. Article Title
• Negative Sentiment: Some traders appear to be taking profits after a sharp sector rally, which has created volatility across quantum-computing names and may limit follow-through gains in QBTS. Article Title

About D-Wave Quantum

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.