D-Wave Quantum (NYSE:QBTS) CFO Sells $349,657.56 in Stock

Key Points

• D-Wave Quantum CFO John Markovich sold 7,994 shares at an average price of $43.74, totaling $349,657.56, which decreased his ownership by 0.50%.
• The company’s stock is currently trading at $44.82 after rising 4.1% in recent trading sessions, with a market cap of $15.33 billion.
• D-Wave Quantum reported a 40.9% increase in revenue from the previous year, although it posted an earnings miss of ($0.08) per share against estimates of ($0.05).

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John Markovich sold 7,994 shares of the company's stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $43.74, for a total transaction of $349,657.56. Following the transaction, the chief financial officer owned 1,580,934 shares of the company's stock, valued at $69,150,053.16. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

D-Wave Quantum Trading Up 4.1%

Shares of QBTS stock traded up $1.76 during trading hours on Wednesday, hitting $44.82. 77,340,953 shares of the company's stock traded hands, compared to its average volume of 65,296,828. The stock has a market cap of $15.33 billion, a PE ratio of -42.68 and a beta of 1.49. The stock's 50 day simple moving average is $21.88 and its 200 day simple moving average is $16.20. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12 month low of $0.98 and a 12 month high of $46.75.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.D-Wave Quantum's revenue for the quarter was up 40.9% compared to the same quarter last year. On average, sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Upgrades and Downgrades

QBTS has been the subject of several recent research reports. Canaccord Genuity Group initiated coverage on D-Wave Quantum in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $20.00 price target for the company. Wall Street Zen cut shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Cantor Fitzgerald initiated coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price target on the stock. Benchmark reaffirmed a "buy" rating and set a $20.00 price target on shares of D-Wave Quantum in a research report on Monday, August 4th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of D-Wave Quantum in a research report on Tuesday. Eleven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.27.

Institutional Trading of D-Wave Quantum

Several hedge funds have recently bought and sold shares of the business. Reyes Financial Architecture Inc. bought a new stake in D-Wave Quantum during the 2nd quarter valued at $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of D-Wave Quantum in the 2nd quarter worth about $29,000. Parallel Advisors LLC lifted its position in shares of 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 in the last quarter. Gables Capital Management Inc. bought a new position in shares of D-Wave Quantum during the 2nd quarter worth approximately $37,000. Finally, Huntington National Bank bought a new position in shares of D-Wave Quantum in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 42.47% 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.

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