D-Wave Quantum Inc. (NYSE:QBTS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of D-Wave Quantum Inc. (NYSE:QBTS) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $38.2143.

QBTS has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on shares of D-Wave Quantum in a research note on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price objective on the stock. Canaccord Genuity Group set a $43.00 target price on D-Wave Quantum in a report on Thursday, January 29th. Mizuho started coverage on D-Wave Quantum in a research report on Thursday, December 11th. They issued an “outperform” rating and a $46.00 target price on the stock. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of D-Wave Quantum in a research report on Friday, January 23rd. Finally, Evercore started coverage on shares of D-Wave Quantum in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 target price on the stock.

Insider Buying and Selling

In other D-Wave Quantum news, Director Kirstjen Nielsen sold 7,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $22.62, for a total value of $158,340.00. Following the sale, the director owned 112,673 shares of the company’s stock, valued at $2,548,663.26. The trade was a 5.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John M. Markovich sold 9,179 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total transaction of $257,562.74. Following the transaction, the chief financial officer owned 1,462,133 shares of the company’s stock, valued at approximately $41,027,451.98. This represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,074,466 shares of company stock worth $31,558,806. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QBTS. Osaic Holdings Inc. increased its stake in D-Wave Quantum by 125.7% in the 2nd quarter. Osaic Holdings Inc. now owns 247,004 shares of the company’s stock valued at $3,616,000 after buying an additional 137,549 shares during the last quarter. UNICOM Systems Inc. increased its position in shares of D-Wave Quantum by 12.1% in the third quarter. UNICOM Systems Inc. now owns 3,121,346 shares of the company’s stock valued at $77,128,000 after acquiring an additional 337,838 shares during the last quarter. Csenge Advisory Group raised its holdings in D-Wave Quantum by 99.1% during the third quarter. Csenge Advisory Group now owns 35,886 shares of the company’s stock worth $887,000 after acquiring an additional 17,860 shares in the last quarter. World Investment Advisors acquired a new position in D-Wave Quantum during the second quarter valued at approximately $190,000. Finally, Mutual Advisors LLC acquired a new position in D-Wave Quantum during the third quarter valued at approximately $1,069,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

Shares of NYSE:QBTS opened at $19.39 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of -14.36 and a beta of 1.56. The stock’s 50 day moving average price is $24.99 and its 200 day moving average price is $24.84. D-Wave Quantum has a 12 month low of $4.45 and a 12 month high of $46.75.

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.