John M. Markovich Sells 50,000 Shares of D-Wave Quantum (NYSE:QBTS) Stock

Key Points

• CFO John Markovich of D-Wave Quantum Inc. sold 50,000 shares at an average price of $16.30, totaling $815,000, reducing his ownership by 3.03% to approximately 1.6 million shares.
• D-Wave Quantum's stock rose 7.7% on Friday, reaching $17.79 with a significant trading volume of nearly 59.5 million shares.
• During the last quarterly earnings, the company reported a revenue of $3.1 million, which was up 40.9% year-over-year, but missed EPS estimates with a loss of ($0.08).

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John M. Markovich sold 50,000 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.30, for a total transaction of $815,000.00. Following the completion of the sale, the chief financial officer owned 1,599,511 shares in the company, valued at approximately $26,072,029.30. This trade represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

D-Wave Quantum Stock Up 3.5%

QBTS traded up $0.64 during midday trading on Tuesday, reaching $18.96. The company's stock had a trading volume of 39,613,392 shares, compared to its average volume of 30,058,412. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of -18.06 and a beta of 1.39. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 1 year low of $0.87 and a 1 year high of $20.56. The stock's 50-day moving average is $16.87 and its 200-day moving average is $13.07.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on QBTS shares. Rosenblatt Securities started coverage on shares of D-Wave Quantum in a report on Tuesday, July 29th. They issued a "buy" rating and a $30.00 target price on the stock. Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Piper Sandler boosted their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Cantor Fitzgerald initiated coverage on shares of D-Wave Quantum in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 price target for the company. Finally, Canaccord Genuity Group initiated coverage on shares of D-Wave Quantum in a report on Wednesday, July 23rd. They issued a "buy" rating and a $20.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, D-Wave Quantum has an average rating of "Buy" and an average price target of $19.27.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. lifted its holdings in D-Wave Quantum by 786.8% during the first quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company's stock valued at $842,000 after purchasing an additional 98,350 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in D-Wave Quantum during the first quarter valued at $167,000. Swiss National Bank purchased a new position in D-Wave Quantum during the first quarter valued at $3,532,000. Verity Asset Management Inc. purchased a new position in D-Wave Quantum during the first quarter valued at $251,000. Finally, Deutsche Bank AG raised its position in shares of D-Wave Quantum by 35.0% in the fourth quarter. Deutsche Bank AG now owns 73,906 shares of the company's stock valued at $621,000 after buying an additional 19,157 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

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.