D-Wave Quantum (NYSE:QBTS) Trading Down 1.2% - Should You Sell?

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) shares were down 1.2% on Tuesday . The stock traded as low as $16.50 and last traded at $16.55. Approximately 17,177,985 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 48,064,955 shares. The stock had previously closed at $16.76.

Analyst Ratings Changes

Several equities analysts have recently weighed in on QBTS shares. Benchmark reissued a "buy" rating and issued a $20.00 price objective (up from $14.00) on shares of D-Wave Quantum in a research report on Tuesday, June 17th. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Roth Mkm increased their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Finally, Needham & Company LLC upped their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum presently has an average rating of "Buy" and a consensus price target of $14.38.

D-Wave Quantum Price Performance

The company has a quick ratio of 20.61, a current ratio of 20.73 and a debt-to-equity ratio of 0.15. The company's 50 day moving average is $14.82 and its 200 day moving average is $9.62. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of -24.98 and a beta of 1.40.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced 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. The firm had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. On average, equities research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other D-Wave Quantum news, Director Roger Biscay sold 106,626 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the completion of the transaction, the director owned 14,260 shares in the company, valued at approximately $240,281. This trade represents a 88.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirstjen Nielsen sold 58,644 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.21, for a total transaction of $950,619.24. Following the transaction, the director owned 132,673 shares of the company's stock, valued at approximately $2,150,629.33. The trade was a 30.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,636,796 shares of company stock worth $27,872,091 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of D-Wave Quantum

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its position in shares of D-Wave Quantum by 491.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 16,321 shares of the company's stock worth $239,000 after buying an additional 13,561 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of D-Wave Quantum during the 2nd quarter worth approximately $242,000. Wealth Enhancement Advisory Services LLC grew its position in shares of D-Wave Quantum by 108.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,715 shares of the company's stock worth $464,000 after buying an additional 16,481 shares during the period. Capital Advisory Group Advisory Services LLC grew its position in shares of D-Wave Quantum by 3.0% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company's stock worth $325,000 after buying an additional 646 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its position in shares of D-Wave Quantum by 12.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 43,759 shares of the company's stock worth $641,000 after buying an additional 4,677 shares during the period. Institutional investors and hedge funds 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.