B. Riley Forecasts D-Wave Quantum's Q4 Earnings (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS - Free Report) - Equities researchers at B. Riley dropped their Q4 2024 earnings estimates for D-Wave Quantum in a note issued to investors on Monday, March 3rd. B. Riley analyst C. Ellis now anticipates that the company will post earnings of ($0.11) per share for the quarter, down from their previous forecast of ($0.10). B. Riley currently has a "Buy" rating and a $11.00 target price on the stock. The consensus estimate for D-Wave Quantum's current full-year earnings is ($0.41) per share.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Craig Hallum boosted their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Benchmark reissued a "buy" rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Finally, Roth Mkm boosted their price target on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $6.71.

D-Wave Quantum Stock Down 0.7 %

NYSE:QBTS traded down $0.04 during mid-day trading on Wednesday, hitting $5.20. 44,225,379 shares of the stock traded hands, compared to its average volume of 78,271,703. The business's 50-day moving average price is $6.31 and its 200 day moving average price is $3.67. The company has a market cap of $1.40 billion, a PE ratio of -12.37 and a beta of 1.12. D-Wave Quantum has a 12-month low of $0.75 and a 12-month high of $11.41.

Institutional Investors Weigh In On D-Wave Quantum

A number of institutional investors have recently made changes to their positions in QBTS. Penserra Capital Management LLC raised its holdings in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company's stock valued at $4,409,000 after buying an additional 839,942 shares during the last quarter. State Street Corp raised its holdings in D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company's stock valued at $1,986,000 after buying an additional 17,225 shares during the last quarter. Barclays PLC raised its holdings in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock valued at $117,000 after buying an additional 89,894 shares during the last quarter. Geode Capital Management LLC raised its holdings in D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company's stock valued at $2,513,000 after buying an additional 645,039 shares during the last quarter. Finally, Silverleafe Capital Partners LLC bought a new stake in D-Wave Quantum during the 4th quarter valued at $820,000. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insider Activity

In other news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the sale, the insider now owns 1,000,000 shares of the company's stock, valued at approximately $4,210,000. This represents a 89.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John M. Markovich sold 5,582 shares of the company's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the sale, the chief financial officer now directly owns 1,064,556 shares of the company's stock, valued at $5,610,210.12. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,152,665 shares of company stock valued at $92,096,075. Corporate insiders own 7.22% of the company's stock.

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.