D-Wave Quantum Inc. (NYSE:QBTS) Given Average Rating of “Moderate Buy” by Brokerages

D-Wave Quantum Inc. (NYSE:QBTS) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $36.50.

Several research analysts recently weighed in on QBTS shares. TD Cowen started coverage on D-Wave Quantum in a research report on Thursday, February 12th. They set a “buy” rating for the company. Needham & Company LLC reduced their price target on D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Benchmark reiterated a “buy” rating and set a $35.00 price target on shares of D-Wave Quantum in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Friday, March 27th. Finally, Roth Mkm reduced their price target on D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th.

Insider Buying and Selling

In related news, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. Following the completion of the transaction, the director directly owned 27,778 shares in the company, valued at approximately $489,448.36. This trade represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John M. Markovich sold 10,706 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $17.63, for a total value of $188,746.78. Following the completion of the sale, the chief financial officer owned 1,451,427 shares of the company’s stock, valued at $25,588,658.01. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,898 shares of company stock valued at $1,749,054 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Trading of D-Wave Quantum

Large investors have recently made changes to their positions in the company. Root Financial Partners LLC increased its position in shares of D-Wave Quantum by 388.0% during the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after purchasing an additional 776 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of D-Wave Quantum during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its position in shares of D-Wave Quantum by 267.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $30,000 after purchasing an additional 838 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of D-Wave Quantum during the third quarter worth approximately $30,000. Finally, Financial Consulate Inc. purchased a new stake in shares of D-Wave Quantum during the third quarter worth approximately $31,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Trading Up 3.1%

D-Wave Quantum stock opened at $14.30 on Friday. The stock has a 50-day moving average price of $17.53 and a 200 day moving average price of $24.65. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -13.00 and a beta of 1.78. D-Wave Quantum has a 52 week low of $5.97 and a 52 week high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The company had revenue of $2.75 million for the quarter, compared to analysts’ expectations of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. Sell-side analysts anticipate that D-Wave Quantum will post -0.41 EPS for the current year.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.