Shares of D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) fell 3% on Monday . The stock traded as low as $15.15 and last traded at $15.85. 23,857,133 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 43,536,815 shares. The stock had previously closed at $16.33.
Analyst Upgrades and Downgrades
A number of research firms recently commented on QBTS. Roth Mkm lifted their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. B. Riley boosted their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, March 14th. Benchmark increased their price target on D-Wave Quantum from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Needham & Company LLC upped their target price on D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $10.17.
Get Our Latest Stock Report on D-Wave Quantum
D-Wave Quantum Stock Performance
The business has a 50 day moving average of $10.16 and a two-hundred day moving average of $7.53. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -38.98 and a beta of 1.49.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. On average, equities analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.
Insiders Place Their Bets
In other D-Wave Quantum news, CEO Alan E. Baratz sold 845,813 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total value of $14,378,821.00. Following the transaction, the chief executive officer now directly owns 2,866,412 shares in the company, valued at $48,729,004. This represents a 22.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger Biscay sold 15,675 shares of D-Wave Quantum stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $16.58, for a total value of $259,891.50. Following the sale, the director now directly owns 203,147 shares of the company's stock, valued at approximately $3,368,177.26. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,358,009 shares of company stock valued at $23,282,578. Insiders own 7.22% of the company's stock.
Institutional Trading of D-Wave Quantum
Hedge funds have recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in D-Wave Quantum during the 4th quarter valued at about $90,000. Kingsview Wealth Management LLC purchased a new stake in D-Wave Quantum in the 4th quarter worth approximately $84,000. AlphaStar Capital Management LLC bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $225,000. Stephens Inc. AR bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $494,000. Finally, UNICOM Systems Inc. purchased a new position in shares of D-Wave Quantum during the fourth quarter valued at approximately $20,258,000. Institutional investors own 42.47% of the company's stock.
D-Wave Quantum Company Profile
(
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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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