D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) shares traded down 1.2% during mid-day trading on Tuesday . The stock traded as low as $16.50 and last traded at $16.55. 17,177,985 shares changed hands during trading, a decline of 64% from the average session volume of 48,064,955 shares. The stock had previously closed at $16.76.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. B. Riley reissued a "buy" rating and set a $20.00 target price (up previously from $13.00) on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Roth Mkm lifted their target price on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Williams Trading set a $20.00 target price on D-Wave Quantum in a research note on Wednesday, June 18th. Needham & Company LLC lifted their target price on D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Benchmark reissued a "buy" rating and set a $20.00 target price (up previously from $14.00) on shares of D-Wave Quantum in a research note on Tuesday, June 17th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum presently has a consensus rating of "Buy" and a consensus target price of $14.38.
Read Our Latest Analysis on D-Wave Quantum
D-Wave Quantum Trading Down 0.4%
The company has a current ratio of 20.73, a quick ratio of 20.61 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $9.57. The firm has a market cap of $4.77 billion, a P/E ratio of -27.11 and a beta of 1.40.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data 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. D-Wave Quantum had a negative return on equity of 227.95% and a negative net margin of 617.84%. The business had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. On average, equities research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director John D. Dilullo sold 15,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.40, for a total value of $246,000.00. Following the completion of the transaction, the director owned 44,295 shares in the company, valued at approximately $726,438. The trade was a 25.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirstjen Nielsen sold 13,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.04, for a total value of $208,520.00. Following the completion of the transaction, the director owned 119,673 shares of the company's stock, valued at approximately $1,919,554.92. This trade represents a 9.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,636,796 shares of company stock worth $27,872,091. Insiders own 3.20% of the company's stock.
Hedge Funds Weigh In On D-Wave Quantum
A number of institutional investors and hedge funds have recently modified their holdings of the stock. bLong Financial LLC boosted its holdings in shares of D-Wave Quantum by 5.2% in the 1st quarter. bLong Financial LLC now owns 24,092 shares of the company's stock worth $183,000 after purchasing an additional 1,200 shares during the period. Baird Financial Group Inc. boosted its holdings in D-Wave Quantum by 12.0% during the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock valued at $92,000 after acquiring an additional 1,300 shares during the period. Parallel Advisors LLC boosted its holdings in D-Wave Quantum by 227.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock valued at $32,000 after acquiring an additional 1,532 shares during the period. Victory Capital Management Inc. boosted its holdings in D-Wave Quantum by 5.8% during the 1st quarter. Victory Capital Management Inc. now owns 31,097 shares of the company's stock valued at $236,000 after acquiring an additional 1,698 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in D-Wave Quantum by 20.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock valued at $87,000 after acquiring an additional 1,766 shares during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.
About D-Wave Quantum
(
Get Free Report)
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.
Featured Stories
Before you consider D-Wave Quantum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and D-Wave Quantum wasn't on the list.
While D-Wave Quantum currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.