John 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 Markovich sold 50,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.30, for a total value of $815,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

D-Wave Quantum Trading Up 7.7%

Shares of NYSE:QBTS traded up $1.27 during trading on Friday, hitting $17.79. The company's stock had a trading volume of 59,469,749 shares, compared to its average volume of 28,506,484. 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 fifty-two week low of $0.87 and a fifty-two week high of $20.56. The stock's 50-day moving average price is $16.76 and its two-hundred day moving average price is $12.76.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.55 million. The company's revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $26,000. Reyes Financial Architecture Inc. acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $29,000. Parallel Advisors LLC increased its stake 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 valued at $32,000 after purchasing an additional 1,532 shares during the period. Finally, Gables Capital Management Inc. acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $37,000. 42.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. B. Riley increased their price target on shares of D-Wave Quantum from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Williams Trading set a $20.00 price target on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Rosenblatt Securities assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, July 29th. They set a "buy" rating and a $30.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They set a "buy" rating and a $26.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $19.27.

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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