D-Wave Quantum (NYSE:QBTS) Trading Down 3.1% - What's Next?

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s stock price fell 3.1% during mid-day trading on Wednesday . The company traded as low as $14.30 and last traded at $14.50. 14,170,277 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 46,788,875 shares. The stock had previously closed at $14.97.

Analyst Ratings Changes

Several equities analysts have commented on the stock. B. Riley reissued a "buy" rating and set a $20.00 target price (up from $13.00) on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Benchmark reissued a "buy" rating and issued a $20.00 price target (up previously from $14.00) on shares of D-Wave Quantum in a research report on Tuesday, June 17th. Needham & Company LLC upped their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a report on Wednesday, June 18th. Finally, Roth Mkm upped their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $13.57.

D-Wave Quantum Price Performance

The company has a market cap of $4.32 billion, a P/E ratio of -24.61 and a beta of 1.49. The stock has a 50-day simple moving average of $12.73 and a 200 day simple moving average of $8.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 20.61 and a current ratio of 20.73.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $15.00 million during 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 analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Activity

In other D-Wave Quantum news, Director Kirstjen Nielsen sold 13,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.04, for a total value of $208,520.00. Following the transaction, the director now directly owns 119,673 shares in the company, valued at $1,919,554.92. The trade was a 9.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $14,378,821.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,636,796 shares of company stock worth $27,872,091. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QBTS. Fourth Dimension Wealth LLC acquired a new stake in D-Wave Quantum during the 4th quarter valued at $26,000. PNC Financial Services Group Inc. bought a new stake in shares of D-Wave Quantum during the fourth quarter worth $38,000. Russell Investments Group Ltd. increased its stake in shares of D-Wave Quantum by 133.9% in 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 in the last quarter. Signaturefd LLC raised its holdings in shares of D-Wave Quantum by 106.1% in 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 holdings in shares of D-Wave Quantum by 107.8% in the first quarter. Amalgamated Bank now owns 6,296 shares of the company's stock valued at $48,000 after buying an additional 3,266 shares during the last quarter. 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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