D-Wave Quantum (NYSE:QBTS) Director Sells $143,440.00 in Stock

Key Points

• D-Wave Quantum Director John Dilullo sold 8,000 shares at an average price of $17.93, totaling $143,440, reducing his ownership by 18.06% to 36,295 shares.
• The company's stock has recently seen significant volatility, with shares trading up 18.5% to a current price of $22.49, reflecting a substantial change from a yearly low of $0.87.
• D-Wave Quantum reported a quarterly earnings miss with an EPS of ($0.08), although revenue increased by 40.9% year-over-year to $3.10 million.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director John Dilullo sold 8,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director owned 36,295 shares in the company, valued at $650,769.35. The trade was a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

D-Wave Quantum Trading Up 18.5%

Shares of QBTS stock traded up $3.51 during trading hours on Wednesday, reaching $22.49. 126,035,820 shares of the stock traded hands, compared to its average volume of 64,497,219. D-Wave Quantum Inc. has a 1-year low of $0.87 and a 1-year high of $22.85. The business has a fifty day moving average price of $16.87 and a 200 day moving average price of $13.07. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $7.69 billion, a PE ratio of -21.42 and a beta of 1.39.

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

Institutional Trading of D-Wave Quantum

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock valued at $85,766,000 after purchasing an additional 4,166,721 shares during the period. State Street Corp boosted its holdings in D-Wave Quantum by 41.3% in the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company's stock valued at $97,333,000 after purchasing an additional 1,941,762 shares during the period. Geode Capital Management LLC boosted its holdings in D-Wave Quantum by 41.6% in the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company's stock valued at $93,877,000 after purchasing an additional 1,883,109 shares during the period. Marex Group plc bought a new stake in D-Wave Quantum in the 2nd quarter valued at $80,070,000. Finally, Penserra Capital Management LLC boosted its holdings in D-Wave Quantum by 80.1% in the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock valued at $38,518,000 after purchasing an additional 2,253,741 shares during the period. 42.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Rosenblatt Securities started coverage on shares of D-Wave Quantum in a research report on Tuesday, July 29th. They issued a "buy" rating and a $30.00 target price for the company. Piper Sandler boosted their target price on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Stifel Nicolaus started coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They issued a "buy" rating and a $26.00 target price for the company. Finally, Canaccord Genuity Group started coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $20.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, D-Wave Quantum has an average rating of "Buy" and a consensus price target 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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