Wall Street Zen Upgrades D-Wave Quantum (NYSE:QBTS) to “Hold”

D-Wave Quantum (NYSE:QBTS) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

QBTS has been the topic of a number of other research reports. Zacks Research downgraded D-Wave Quantum from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of D-Wave Quantum in a research note on Tuesday, October 14th. Rosenblatt Securities upped their target price on D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group raised their price target on shares of D-Wave Quantum from $20.00 to $41.00 and gave the stock a “buy” rating in a report on Friday. Finally, Stifel Nicolaus began 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 objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and a consensus price target of $26.17.

D-Wave Quantum Stock Up 4.1%

QBTS stock opened at $29.56 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86. The firm has a market capitalization of $10.11 billion, a P/E ratio of -21.89 and a beta of 1.53. D-Wave Quantum has a 52-week low of $1.39 and a 52-week high of $46.75. The company’s 50 day simple moving average is $28.10 and its 200-day simple moving average is $19.56.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 124.07%. The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum’s revenue was up 105.6% on a year-over-year basis. As a group, equities research analysts anticipate that D-Wave Quantum will post -0.41 EPS for the current year.

Insider Buying and Selling

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 stock was 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the transaction, the director directly owned 47,778 shares in the company, valued at approximately $856,659.54. This represents a 17.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 207,363 shares of company stock valued at $4,659,478 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On D-Wave Quantum

A number of institutional investors have recently modified their holdings of QBTS. Reyes Financial Architecture Inc. bought a new stake in shares of D-Wave Quantum during the 2nd quarter worth $29,000. Atlantic Union Bankshares Corp acquired a new position in D-Wave Quantum during the 2nd quarter worth $29,000. Financial Consulate Inc. bought a new stake in D-Wave Quantum during the third quarter valued at about $31,000. Parallel Advisors LLC grew its position 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 last quarter. Finally, Gables Capital Management Inc. bought a new position in shares of D-Wave Quantum in the second quarter worth about $37,000. 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.