D-Wave Quantum's (QBTS) "Sell (E+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for D-Wave Quantum (QBTS) in a recent report, despite mixed opinions from other analysts who predominantly have "buy" ratings.
• D-Wave Quantum's stock price recently rose by 6.5%, reaching $43.26, significantly higher than its 1-year low of $0.98.
• In its most recent earnings report, D-Wave Quantum posted a revenue of $3.10 million, exceeding expectations and marking a 40.9% increase compared to the previous year.

D-Wave Quantum (NYSE:QBTS - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research note on Tuesday, August 5th. They set a "buy" rating and a $26.00 price target on the stock. Piper Sandler lifted their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Benchmark reiterated a "buy" rating and set a $20.00 price target on shares of D-Wave Quantum in a research note on Monday, August 4th. Rosenblatt Securities assumed coverage on shares of D-Wave Quantum in a research note on Tuesday, July 29th. They set a "buy" rating and a $30.00 price target on the stock. Finally, Williams Trading set a $20.00 price target on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $20.27.

D-Wave Quantum Stock Up 6.5%

Shares of D-Wave Quantum stock traded up $2.64 during trading hours on Tuesday, reaching $43.26. 46,487,123 shares of the company were exchanged, compared to its average volume of 65,077,363. D-Wave Quantum has a 1 year low of $0.98 and a 1 year high of $44.21. The stock's fifty day moving average is $21.38 and its 200 day moving average is $16.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The firm has a market cap of $14.80 billion, a PE ratio of -41.20 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The company had revenue of $3.10 million for the quarter, compared to analysts' expectations of $2.55 million. The firm's quarterly revenue was up 40.9% compared to the same quarter last year. As a group, equities research analysts forecast that D-Wave Quantum will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John M. Markovich sold 100,000 shares of D-Wave Quantum stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total value of $1,800,000.00. Following the sale, the chief financial officer owned 1,558,753 shares of the company's stock, valued at $28,057,554. The trade was a 6.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the sale, the director directly owned 47,778 shares in the company, valued at approximately $856,659.54. The trade was a 17.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,000 shares of company stock valued at $2,937,740. Insiders own 3.20% of the company's stock.

Institutional Trading of D-Wave Quantum

A number of institutional investors have recently added to or reduced their stakes in QBTS. Reyes Financial Architecture Inc. purchased a new stake in D-Wave Quantum during the second quarter worth about $29,000. Atlantic Union Bankshares Corp purchased a new stake in D-Wave Quantum during the second quarter worth about $29,000. Parallel Advisors LLC boosted its holdings in D-Wave Quantum by 227.3% during 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 in the last quarter. Gables Capital Management Inc. purchased a new stake in D-Wave Quantum during the second quarter worth about $37,000. Finally, Huntington National Bank purchased a new stake in D-Wave Quantum during the second quarter worth about $41,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.