D-Wave Quantum Inc. (NYSE:QBTS) Given Average Rating of "Buy" by Analysts

Shares of D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) have received an average rating of "Buy" from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.38.

QBTS has been the subject of a number of analyst reports. Benchmark reaffirmed a "buy" rating and issued a $20.00 price target (up previously from $14.00) on shares of D-Wave Quantum in a report on Tuesday, June 17th. Cantor Fitzgerald initiated coverage on D-Wave Quantum in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 target price for the company. Williams Trading set a $20.00 price target on D-Wave Quantum in a research note on Wednesday, June 18th. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Finally, Roth Mkm increased their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, March 14th.

Insider Activity

In related news, Director Kirstjen Nielsen sold 58,644 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.21, for a total transaction of $950,619.24. Following the transaction, the director owned 132,673 shares of the company's stock, valued at $2,150,629.33. This trade represents a 30.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO John M. Markovich sold 400,000 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total value of $6,920,000.00. Following the completion of the sale, the chief financial officer directly owned 1,577,944 shares in the company, valued at $27,298,431.20. This represents a 20.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,636,796 shares of company stock valued at $27,872,091. Insiders own 3.20% of the company's stock.

Institutional Trading of D-Wave Quantum

A number of large investors have recently made changes to their positions in QBTS. Capital Advisory Group Advisory Services LLC boosted its position in shares of D-Wave Quantum by 3.0% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company's stock worth $325,000 after acquiring an additional 646 shares during the last quarter. bLong Financial LLC increased its stake in shares of D-Wave Quantum by 5.2% in the first quarter. bLong Financial LLC now owns 24,092 shares of the company's stock worth $183,000 after buying an additional 1,200 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock worth $92,000 after buying an additional 1,300 shares during the last quarter. Parallel Advisors LLC increased its stake in D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock valued at $32,000 after purchasing an additional 1,532 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in D-Wave Quantum by 5.8% during the first quarter. Victory Capital Management Inc. now owns 31,097 shares of the company's stock valued at $236,000 after purchasing an additional 1,698 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Stock Down 4.4%

QBTS stock traded down $0.70 on Thursday, hitting $15.31. 17,318,465 shares of the company's stock were exchanged, compared to its average volume of 72,435,555. D-Wave Quantum has a 12-month low of $0.75 and a 12-month high of $19.76. The firm has a 50 day moving average price of $14.82 and a two-hundred day moving average price of $9.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 20.61 and a current ratio of 20.73. The stock has a market cap of $4.47 billion, a P/E ratio of -25.61 and a beta of 1.40.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. D-Wave Quantum had a negative return on equity of 227.95% and a negative net margin of 617.84%. As a group, equities research analysts expect that D-Wave Quantum will post -0.41 EPS for the current fiscal year.

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.