D-Wave Quantum (NYSE:QBTS) Given New $33.00 Price Target at B. Riley

D-Wave Quantum (NYSE:QBTS) had its target price increased by B. Riley from $22.00 to $33.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also weighed in on QBTS. Canaccord Genuity Group assumed coverage on shares of D-Wave Quantum in a research note on Wednesday, July 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. 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 objective on the stock. Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Finally, Benchmark reiterated a “buy” rating and issued a $20.00 price target on shares of D-Wave Quantum in a research note on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Buy” and a consensus price target of $20.27.

D-Wave Quantum Stock Down 4.6%

Shares of QBTS stock opened at $25.65 on Monday. The firm has a market capitalization of $8.77 billion, a P/E ratio of -24.42 and a beta of 1.40. The firm’s fifty day moving average price is $17.59 and its two-hundred day moving average price is $13.67. D-Wave Quantum has a 1 year low of $0.87 and a 1 year high of $27.33. 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 (NYSE:QBTS) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The business’s revenue was up 40.9% on a year-over-year basis. On average, equities analysts predict that D-Wave Quantum will post -0.41 EPS for the current fiscal year.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 100,000 shares of the business’s 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director directly owned 36,295 shares of the company’s stock, valued at $650,769.35. This represents a 18.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,000 shares of company stock worth $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 bought and sold shares of QBTS. Deutsche Bank AG boosted its holdings in D-Wave Quantum by 35.0% in the 4th quarter. Deutsche Bank AG now owns 73,906 shares of the company’s stock valued at $621,000 after purchasing an additional 19,157 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in D-Wave Quantum by 14.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,135 shares of the company’s stock valued at $472,000 after purchasing an additional 7,185 shares during the period. Nuveen Asset Management LLC boosted its holdings in D-Wave Quantum by 9.8% in the 4th quarter. Nuveen Asset Management LLC now owns 481,708 shares of the company’s stock valued at $4,046,000 after purchasing an additional 43,159 shares during the period. ProShare Advisors LLC boosted its holdings in D-Wave Quantum by 68.3% in the 4th quarter. ProShare Advisors LLC now owns 27,851 shares of the company’s stock valued at $234,000 after purchasing an additional 11,301 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of D-Wave Quantum during the 4th quarter worth approximately $104,000. Institutional investors 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.