D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director Roger Biscay sold 15,675 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $16.58, for a total value of $259,891.50. Following the transaction, the director now owns 203,147 shares of the company's stock, valued at approximately $3,368,177.26. The trade was a 7.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Roger Biscay also recently made the following trade(s):
- On Thursday, May 22nd, Roger Biscay sold 96,521 shares of D-Wave Quantum stock. The stock was sold at an average price of $17.86, for a total value of $1,723,865.06.
D-Wave Quantum Trading Down 1.5%
QBTS opened at $18.76 on Friday. The firm has a market cap of $5.46 billion, a P/E ratio of -44.65 and a beta of 0.90. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $19.77. The stock has a 50-day moving average of $8.76 and a 200 day moving average of $6.66.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. On average, research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.
Institutional Trading of D-Wave Quantum
Several institutional investors have recently added to or reduced their stakes in QBTS. Vanguard Group Inc. lifted its stake in D-Wave Quantum by 58.5% in the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock worth $85,766,000 after purchasing an additional 4,166,721 shares during the last quarter. Bank of America Corp DE lifted its stake in D-Wave Quantum by 4,912.4% in the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after purchasing an additional 2,497,263 shares during the last quarter. UNICOM Systems Inc. bought a new stake in D-Wave Quantum in the fourth quarter worth about $20,258,000. Penserra Capital Management LLC lifted its stake in D-Wave Quantum by 80.1% in the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after purchasing an additional 2,253,741 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of D-Wave Quantum during the first quarter valued at approximately $8,064,000. Institutional investors own 42.47% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Benchmark lifted their price target on D-Wave Quantum from $8.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Roth Mkm lifted their price target on D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. B. Riley lifted their price target on D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, Needham & Company LLC lifted their price target on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum presently has an average rating of "Buy" and an average target price of $10.17.
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D-Wave Quantum Company Profile
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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.
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