D-Wave Quantum (NYSE:QBTS) CFO John Markovich Sells 200,000 Shares

D-Wave Quantum Inc. (NYSE:QBTS) CFO John Markovich sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $22.94, for a total transaction of $4,588,000.00. Following the transaction, the chief financial officer owned 1,482,874 shares in the company, valued at $34,017,129.56. The trade was a 11.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

D-Wave Quantum Trading Down 0.3%

NYSE QBTS traded down $0.06 during trading on Friday, hitting $20.45. The stock had a trading volume of 40,839,152 shares, compared to its average volume of 44,211,384. D-Wave Quantum Inc. has a one year low of $1.97 and a one year high of $46.75. The stock has a 50 day simple moving average of $29.74 and a 200 day simple moving average of $20.74. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of -15.15 and a beta of 1.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cantor Fitzgerald increased their target price on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a research note on Thursday. B. Riley lifted their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Finally, Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They set a “buy” rating and a $26.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and a consensus target price of $28.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QBTS. Reyes Financial Architecture Inc. bought a new stake in shares of D-Wave Quantum in the 2nd quarter valued at about $29,000. Atlantic Union Bankshares Corp purchased a new position in D-Wave Quantum during the second quarter valued at approximately $29,000. Ancora Advisors LLC bought a new position in D-Wave Quantum in the third quarter worth approximately $30,000. Financial Consulate Inc. purchased a new stake in D-Wave Quantum during the third quarter worth $31,000. Finally, Parallel Advisors LLC lifted its holdings in D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after buying an additional 1,532 shares during the period. 42.47% of the stock is currently owned by institutional investors.

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.