D-Wave Quantum (NYSE:QBTS) CEO Alan Baratz Sells 168,102 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz sold 168,102 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the completion of the transaction, the chief executive officer owned 2,633,163 shares in the company, valued at $61,010,386.71. This trade represents a 6.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

D-Wave Quantum Price Performance

D-Wave Quantum stock traded up $0.14 during mid-day trading on Friday, hitting $23.53. The stock had a trading volume of 51,006,355 shares, compared to its average volume of 51,160,600. 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 one year low of $1.41 and a one year high of $46.75. The firm’s 50 day moving average is $29.17 and its 200 day moving average is $20.23. The firm has a market capitalization of $8.24 billion, a P/E ratio of -17.43 and a beta of 1.53.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of D-Wave Quantum in a research report on Tuesday, October 14th. Cantor Fitzgerald upped their target price on D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Piper Sandler raised their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.67.

Hedge Funds Weigh In On D-Wave Quantum

A number of hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in D-Wave Quantum during the 1st quarter worth about $267,000. Principal Financial Group Inc. acquired a new stake in D-Wave Quantum during the first quarter worth approximately $102,000. Bank of New York Mellon Corp boosted its stake in D-Wave Quantum by 134.0% in the first quarter. Bank of New York Mellon Corp now owns 513,834 shares of the company’s stock valued at $3,905,000 after acquiring an additional 294,214 shares in the last quarter. Xponance Inc. purchased a new position in D-Wave Quantum during the 1st quarter worth approximately $108,000. Finally, Arizona State Retirement System purchased a new stake in D-Wave Quantum in the 1st quarter valued at $522,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

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.