D-Wave Quantum Inc. (NYSE:QBTS) CFO Sells $1,800,000.00 in Stock

Key Points

• D-Wave Quantum's CFO, John M. Markovich, sold 100,000 shares of the company's stock for $1.8 million, representing a 6.03% decrease in his ownership stake.
• The company's earnings report showed a loss of ($0.08) per share, missing expectations, but revenue grew by 40.9% year-over-year to $3.1 million.
• Analysts maintain a consensus rating of "Moderate Buy" for D-Wave Quantum, with a target price averaging $19.27, and B. Riley has increased their price target to $22.00.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John M. Markovich sold 100,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $18.00, for a total value of $1,800,000.00. Following the sale, the chief financial officer directly owned 1,558,753 shares in the company, valued at $28,057,554. This represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

D-Wave Quantum Stock Performance

NYSE QBTS traded down $0.55 during trading hours on Thursday, hitting $18.10. The company had a trading volume of 42,622,488 shares, compared to its average volume of 49,627,648. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum Inc. has a 1-year low of $0.80 and a 1-year high of $20.56. The company has a market cap of $5.29 billion, a PE ratio of -17.24 and a beta of 1.41. The business has a 50 day moving average of $16.78 and a 200-day moving average of $11.44.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%. The business had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The company's revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, equities research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Institutional Investors Weigh In On D-Wave Quantum

Hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. raised its holdings in D-Wave Quantum by 786.8% during the first quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company's stock worth $842,000 after purchasing an additional 98,350 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in D-Wave Quantum by 20.6% in the fourth quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company's stock valued at $393,000 after buying an additional 8,001 shares in the last quarter. Bank of Montreal Can purchased a new position in D-Wave Quantum in the fourth quarter valued at about $111,000. Kingswood Wealth Advisors LLC purchased a new position in D-Wave Quantum in the first quarter valued at about $167,000. Finally, Verity Asset Management Inc. purchased a new position in D-Wave Quantum in the first quarter valued at about $251,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QBTS. B. Riley upped their price objective on D-Wave Quantum from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a report on Friday, June 13th. Stifel Nicolaus initiated coverage on D-Wave Quantum in a report on Tuesday, August 5th. They issued a "buy" rating and a $26.00 target price on the stock. Needham & Company LLC reissued a "buy" rating on shares of D-Wave Quantum in a report on Monday, August 4th. Finally, Benchmark reissued a "buy" rating and issued a $20.00 target price on shares of D-Wave Quantum in a report on Monday, August 4th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.27.

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.

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