D-Wave Quantum (NYSE:QBTS) Stock Price Expected to Rise, B. Riley Analyst Says

D-Wave Quantum (NYSE:QBTS - Get Free Report) had its price target increased by B. Riley from $13.00 to $20.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. B. Riley's target price points to a potential upside of 25.59% from the company's current price.

A number of other equities analysts have also commented on the company. Needham & Company LLC raised their price target on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Roth Mkm increased their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Benchmark upped their price target on D-Wave Quantum from $14.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a report on Friday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $12.50.

D-Wave Quantum Stock Performance

Shares of NYSE:QBTS traded up $0.38 during midday trading on Wednesday, reaching $15.93. The company had a trading volume of 15,952,039 shares, compared to its average volume of 46,113,399. The stock has a market cap of $4.65 billion, a P/E ratio of -26.50 and a beta of 1.49. The company's 50 day moving average price is $11.90 and its 200 day moving average price is $8.45. The company has a current ratio of 20.73, a quick ratio of 20.61 and a debt-to-equity ratio of 0.15. D-Wave Quantum has a 52-week low of $0.75 and a 52-week high of $19.77.

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

Insider Buying and Selling at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 845,813 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 2,866,412 shares in the company, valued at $48,729,004. The trade was a 22.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Roger Biscay sold 96,521 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $17.86, for a total value of $1,723,865.06. Following the transaction, the director now directly owns 106,626 shares in the company, valued at approximately $1,904,340.36. The trade was a 47.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,636,796 shares of company stock worth $27,872,091. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On D-Wave Quantum

A number of large investors have recently added to or reduced their stakes in QBTS. Fourth Dimension Wealth LLC purchased a new stake in shares of D-Wave Quantum during the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. bought a new stake in D-Wave Quantum during the fourth quarter valued at approximately $38,000. Russell Investments Group Ltd. increased its holdings in D-Wave Quantum by 133.9% during the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company's stock valued at $42,000 after buying an additional 3,165 shares during the last quarter. Signaturefd LLC increased its holdings in D-Wave Quantum by 106.1% during the first quarter. Signaturefd LLC now owns 5,771 shares of the company's stock valued at $44,000 after buying an additional 2,971 shares during the last quarter. Finally, Amalgamated Bank raised its position in D-Wave Quantum by 107.8% in the first quarter. Amalgamated Bank now owns 6,296 shares of the company's stock worth $48,000 after acquiring an additional 3,266 shares during the period. Institutional investors 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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