D-Wave Quantum (NYSE:QBTS) Director Rohit Ghai Sells 13,518 Shares

Key Points

• Director Rohit Ghai sold 13,518 shares of D-Wave Quantum at an average price of $26.41, totaling about $357,010. The sale, filed with the SEC, reduced his stake by 36.4% and was made under a pre-arranged Rule 10b5-1 plan.
• QBTS traded lower in Tuesday trading, falling to $23.91, while still showing a market cap of $8.84 billion and a high beta of 2.05. The stock remains volatile, with a 1-year range of $12.75 to $46.75.
• Wall Street sentiment remains mostly bullish, with multiple analysts reiterating buy ratings and several raising price targets to as high as $40.00. Overall, the stock carries a consensus rating of Moderate Buy with an average target price of $36.80.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director Rohit Ghai sold 13,518 shares of D-Wave Quantum stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $26.41, for a total transaction of $357,010.38. Following the transaction, the director owned 23,617 shares of the company's stock, valued at approximately $623,724.97. The trade was a 36.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Price Performance

QBTS traded down $2.35 during midday trading on Tuesday, reaching $23.91. 29,339,334 shares of the company's stock were exchanged, compared to its average volume of 32,392,406. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31. The stock has a market capitalization of $8.84 billion, a PE ratio of -21.16 and a beta of 2.05. The business's 50-day moving average price is $21.95 and its 200 day moving average price is $22.29. D-Wave Quantum Inc. has a 1-year low of $12.75 and a 1-year high of $46.75.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $2.86 million during the quarter, compared to analysts' expectations of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The firm's quarterly revenue was down 80.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. As a group, equities analysts anticipate that D-Wave Quantum Inc. will post -0.43 EPS for the current fiscal year.

Key Stories Impacting D-Wave Quantum

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: Analyst-day momentum and a higher price target from Mizuho helped reinforce optimism around D-Wave’s updated roadmap and longer-term commercialization plans for fault-tolerant quantum computing. D-Wave Quantum jumps as Mizuho ups price target after analyst day
• Positive Sentiment: Several articles highlighted D-Wave as a leading pure-play quantum name, with upbeat commentary on its gate-model roadmap and bullish technical setups, supporting investor interest in the stock. D-Wave Quantum (QBTS) Inspires Confidence With Latest Gate-Model Roadmap
• Neutral Sentiment: Monday’s broader “risk-on” rally lifted QBTS along with other quantum stocks, but that move appears to be unwinding as traders take profits and the sector gives back some of its gains. IonQ, Rigetti, D-Wave, and Quantum Computing Inc. All Fall 5% to 7% as the Quantum Rally Reverses
• Neutral Sentiment: Some coverage emphasized that D-Wave remains one of the key names in quantum computing, but also noted a competitive landscape and insider selling that could keep sentiment volatile. Can D-Wave Hold Its Own Against 2 Fast-Growing Rivals?
• Negative Sentiment: Fresh commentary focused on valuation risk, saying QBTS is being compared to “the NVIDIA of quantum computing” while also warning that the stock’s rich valuation leaves little room for execution missteps. Is QBTS the NVIDIA of Quantum Computing or is it Overvalued?

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Root Financial Partners LLC grew its holdings in D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company's stock valued at $26,000 after purchasing an additional 776 shares during the period. Parallel Advisors LLC grew its stake in D-Wave Quantum by 545.5% during the first quarter. Parallel Advisors LLC now owns 1,788 shares of the company's stock worth $26,000 after buying an additional 1,511 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in D-Wave Quantum during the fourth quarter worth approximately $28,000. PeakShares LLC purchased a new stake in D-Wave Quantum during the first quarter worth approximately $29,000. Finally, EverSource Wealth Advisors LLC grew its stake in D-Wave Quantum by 267.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company's stock worth $30,000 after buying an additional 838 shares during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group restated a "buy" rating on shares of D-Wave Quantum in a research report on Tuesday, May 12th. Roth Mkm lifted their target price on shares of D-Wave Quantum from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Mizuho lifted their price target on shares of D-Wave Quantum from $29.00 to $35.00 and gave the stock an "outperform" rating in a report on Monday. Finally, B. Riley Financial lifted their price target on shares of D-Wave Quantum from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, D-Wave Quantum presently has an average rating of "Moderate Buy" and a consensus target price of $36.80.

D-Wave Quantum Company Profile

D-Wave Quantum Inc NYSE: QBTS develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company's product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.

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