D-Wave Quantum (QBTS) Expected to Announce Earnings on Thursday

D-Wave Quantum (NYSE:QBTS) will likely be posting its quarterly earnings results before the market opens on Thursday, March 13th. Analysts expect D-Wave Quantum to post earnings of ($0.09) per share and revenue of $2.23 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

D-Wave Quantum Stock Up 4.4 %

NYSE QBTS opened at $5.56 on Thursday. The stock’s 50-day simple moving average is $6.49 and its two-hundred day simple moving average is $3.63. D-Wave Quantum has a twelve month low of $0.75 and a twelve month high of $11.41. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -13.23 and a beta of 1.10.

Insider Transactions at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the transaction, the insider now owns 1,000,000 shares in the company, valued at $4,210,000. The trade was a 89.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Markovich sold 5,582 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $29,417.14. Following the transaction, the chief financial officer now owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,152,665 shares of company stock worth $92,096,075. Company insiders own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Craig Hallum raised their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Roth Mkm lifted their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a report on Tuesday, January 14th. Finally, B. Riley lifted their price objective on D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum presently has a consensus rating of “Buy” and a consensus target price of $6.71.

About D-Wave Quantum

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.