D-Wave Quantum (NYSE:QBTS) Trading Down 3.6% - Should You Sell?

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s stock price dropped 3.6% on Monday . The company traded as low as $14.60 and last traded at $15.09. Approximately 15,229,684 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 46,668,874 shares. The stock had previously closed at $15.65.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. B. Riley reaffirmed a "buy" rating and issued a $20.00 price objective (up from $13.00) on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a report on Wednesday, June 18th. Benchmark reaffirmed a "buy" rating and set a $20.00 target price (up from $14.00) on shares of D-Wave Quantum in a report on Tuesday, June 17th. Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Finally, Roth Mkm lifted their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $13.57.

D-Wave Quantum Stock Performance

The stock has a 50-day moving average price of $12.41 and a 200 day moving average price of $8.76. 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 firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -24.66 and a beta of 1.48.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $15.00 million during 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%. On average, analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Transactions at D-Wave Quantum

In other news, Director Rohit Ghai sold 43,517 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.80, for a total transaction of $731,085.60. Following the completion of the sale, the director now owns 57,778 shares in the company, valued at $970,670.40. This represents a 42.96% 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, CEO Alan E. Baratz sold 845,813 shares of the 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 of the company's stock, valued at $48,729,004. The trade was a 22.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,636,796 shares of company stock worth $27,872,091 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Trading of D-Wave Quantum

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock worth $85,766,000 after buying an additional 4,166,721 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of D-Wave Quantum by 4,912.4% in the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after purchasing an additional 2,497,263 shares during the period. Penserra Capital Management LLC raised its holdings in shares of D-Wave Quantum by 80.1% in the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after purchasing an additional 2,253,741 shares during the period. UNICOM Systems Inc. raised its holdings in shares of D-Wave Quantum by 91.9% in the 1st quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock worth $35,171,000 after purchasing an additional 2,216,000 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of D-Wave Quantum in the 1st quarter worth about $8,064,000. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Company Profile

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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