IPG Investment Advisors LLC Buys New Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

IPG Investment Advisors LLC purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $76,000.

A number of other large investors also recently modified their holdings of QBTS. Blair William & Co. IL raised its position in shares of D-Wave Quantum by 9.0% during the 1st quarter. Blair William & Co. IL now owns 30,438 shares of the company’s stock worth $231,000 after acquiring an additional 2,503 shares in the last quarter. Strategic Advocates LLC raised its holdings in D-Wave Quantum by 58.4% during the first quarter. Strategic Advocates LLC now owns 27,825 shares of the company’s stock worth $211,000 after purchasing an additional 10,264 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of D-Wave Quantum during the 1st quarter worth approximately $297,000. Arkadios Wealth Advisors boosted its holdings in shares of D-Wave Quantum by 475.8% in the 1st quarter. Arkadios Wealth Advisors now owns 110,821 shares of the company’s stock valued at $842,000 after buying an additional 91,576 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in D-Wave Quantum by 3.4% during the 1st quarter. XTX Topco Ltd now owns 65,799 shares of the company’s stock worth $500,000 after acquiring an additional 2,159 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $17.21 on Tuesday. The firm’s fifty day simple moving average is $16.66 and its 200-day simple moving average is $10.85. The company has a quick ratio of 20.61, a current ratio of 20.73 and a debt-to-equity ratio of 0.15. The stock has a market cap of $5.03 billion, a PE ratio of -28.68 and a beta of 1.41. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $20.56.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. The company had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. Analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other D-Wave Quantum news, Director Roger Biscay sold 106,626 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the sale, the director directly owned 14,260 shares in the company, valued at approximately $240,281. The trade was a 88.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rohit Ghai sold 43,517 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.80, for a total value of $731,085.60. Following the completion of the transaction, the director owned 57,778 shares of the company’s stock, valued at approximately $970,670.40. This represents a 42.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,636,796 shares of company stock valued at $27,872,091 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

QBTS has been the subject of a number of research analyst reports. B. Riley upped their target price on D-Wave Quantum from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Needham & Company LLC upped their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Cantor Fitzgerald began coverage on shares of D-Wave Quantum in a research note on Wednesday, July 2nd. They issued an “overweight” rating and a $20.00 price objective on the stock. Rosenblatt Securities started coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Benchmark reiterated a “buy” rating and issued a $20.00 price objective on shares of D-Wave Quantum in a research report on Monday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.70.

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.