B. Riley Has Pessimistic View of D-Wave Quantum Q4 Earnings

D-Wave Quantum Inc. (NYSE:QBTS) – Research analysts at B. Riley lowered their Q4 2024 earnings per share (EPS) estimates for D-Wave Quantum in a note issued to investors on Monday, March 3rd. B. Riley analyst C. Ellis now anticipates that the company will post earnings of ($0.11) per share for the quarter, down from their previous forecast of ($0.10). B. Riley currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for D-Wave Quantum’s current full-year earnings is ($0.41) per share.

A number of other analysts have also recently commented on QBTS. Needham & Company LLC reiterated a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Craig Hallum upped their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Finally, Roth Mkm upped their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $6.71.

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $5.32 on Wednesday. The stock has a market cap of $1.43 billion, a PE ratio of -12.65 and a beta of 1.10. D-Wave Quantum has a one year low of $0.75 and a one year high of $11.41. The stock has a fifty day moving average of $6.54 and a 200 day moving average of $3.62.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after acquiring an additional 89,894 shares during the period. Silverleafe Capital Partners LLC bought a new position in shares of D-Wave Quantum in the fourth quarter worth about $820,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of D-Wave Quantum in the fourth quarter worth about $488,000. Stephens Inc. AR bought a new position in D-Wave Quantum during the fourth quarter valued at approximately $494,000. Finally, Geode Capital Management LLC boosted its stake in D-Wave Quantum by 33.8% during the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after buying an additional 645,039 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $6.68, for a total value of $6,680,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the transaction, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,152,665 shares of company stock worth $92,096,075 over the last quarter. 7.22% of the stock is currently owned by corporate insiders.

D-Wave Quantum Company Profile

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.