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

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s share price fell 1.2% on Monday . The stock traded as low as $15.94 and last traded at $16.59. 16,775,849 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 48,107,868 shares. The stock had previously closed at $16.79.

Analysts Set New Price Targets

QBTS has been the topic of a number of research reports. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Cantor Fitzgerald initiated coverage on D-Wave Quantum in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price target on the stock. Needham & Company LLC upped their price target on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. B. Riley restated a "buy" rating and set a $20.00 price target (up from $13.00) on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Finally, Roth Mkm upped their price target 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $14.38.

D-Wave Quantum Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 20.73 and a quick ratio of 20.61. The stock has a market capitalization of $4.68 billion, a PE ratio of -26.71 and a beta of 1.40. The stock has a 50 day moving average of $14.64 and a two-hundred day moving average of $9.57.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating 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 return on equity of 227.95% and a negative net margin of 617.84%. Research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Kirstjen Nielsen sold 58,644 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.21, for a total value of $950,619.24. Following the completion of the transaction, the director directly owned 132,673 shares of the company's stock, valued at $2,150,629.33. The trade was a 30.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Alan E. Baratz sold 845,813 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were 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 owned 2,866,412 shares of the company's stock, valued at $48,729,004. The trade was a 22.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,636,796 shares of company stock valued at $27,872,091. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On D-Wave Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisory Group Advisory Services LLC increased its stake in D-Wave Quantum by 3.0% during the second quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company's stock worth $325,000 after acquiring an additional 646 shares during the last quarter. bLong Financial LLC boosted its position in shares of D-Wave Quantum by 5.2% in the first quarter. bLong Financial LLC now owns 24,092 shares of the company's stock worth $183,000 after buying an additional 1,200 shares during the period. Baird Financial Group Inc. boosted its position in shares of D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock worth $92,000 after buying an additional 1,300 shares during the period. Parallel Advisors LLC boosted its position in shares of D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock worth $32,000 after buying an additional 1,532 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of D-Wave Quantum by 5.8% in the first quarter. Victory Capital Management Inc. now owns 31,097 shares of the company's stock worth $236,000 after buying an additional 1,698 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

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.