D-Wave Quantum (NYSE:QBTS) Now Covered by Analysts at Northland Securities

Northland Securities began coverage on shares of D-Wave Quantum (NYSE:QBTS) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued a market perform rating and a $22.00 price objective on the stock.

A number of other research analysts have also weighed in on QBTS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of D-Wave Quantum in a report on Friday, March 27th. Needham & Company LLC dropped their price objective on D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Mizuho dropped their price objective on D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Canaccord Genuity Group set a $43.00 price objective on D-Wave Quantum in a report on Thursday, January 29th. Finally, Zacks Research lowered D-Wave Quantum from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.53.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $21.64 on Monday. D-Wave Quantum has a 12 month low of $5.97 and a 12 month high of $46.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 42.25. The business has a 50 day simple moving average of $17.44 and a 200-day simple moving average of $24.32. The stock has a market capitalization of $8.01 billion, a PE ratio of -19.68 and a beta of 1.78.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The company had revenue of $2.75 million for the quarter, compared to analysts’ expectations of $3.74 million. The business’s revenue was up 21.7% compared to the same quarter last year. Equities analysts predict that D-Wave Quantum will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total value of $144,080.00. Following the sale, the director owned 19,803 shares of the company’s stock, valued at approximately $356,652.03. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John M. Markovich sold 10,706 shares of the company’s stock in a transaction 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 directly owned 1,451,427 shares in the company, valued at $25,588,658.01. This trade represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,706 shares of company stock valued at $509,027 over the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Trading of D-Wave Quantum

Several large investors have recently bought and sold shares of QBTS. Root Financial Partners LLC grew its holdings in D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after purchasing an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in D-Wave Quantum in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC grew its holdings in D-Wave Quantum by 267.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after purchasing an additional 838 shares during the last quarter. Ancora Advisors LLC acquired a new stake in D-Wave Quantum in the third quarter valued at $30,000. Finally, Financial Consulate Inc. acquired a new stake in D-Wave Quantum in the third quarter valued at $31,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

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.