McGuire Investment Group LLC Increases Stake in D-Wave Quantum Inc. $QBTS

McGuire Investment Group LLC increased its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 1,224.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,810 shares of the company’s stock after buying an additional 339,117 shares during the period. McGuire Investment Group LLC’s holdings in D-Wave Quantum were worth $5,370,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Reyes Financial Architecture Inc. purchased a new position in shares of D-Wave Quantum during the second quarter valued at $29,000. Parallel Advisors LLC grew its stake in D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after purchasing an additional 1,532 shares during the last quarter. Russell Investments Group Ltd. grew its stake in D-Wave Quantum by 133.9% in the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after purchasing an additional 3,165 shares during the last quarter. Signaturefd LLC grew its stake in D-Wave Quantum by 106.1% in the first quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after purchasing an additional 2,971 shares during the last quarter. Finally, Amalgamated Bank grew its stake in D-Wave Quantum by 107.8% in the first quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock valued at $48,000 after purchasing an additional 3,266 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of D-Wave Quantum in a research note on Monday, August 4th. Rosenblatt Securities assumed coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They issued a “buy” rating and a $30.00 target price on the stock. Wall Street Zen lowered D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Stifel Nicolaus started coverage on D-Wave Quantum in a report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target for the company. Finally, Williams Trading set a $20.00 price target on D-Wave Quantum in a report on Wednesday, June 18th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $20.27.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $25.58 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The company has a market cap of $8.75 billion, a PE ratio of -24.36 and a beta of 1.49. The business has a 50-day simple moving average of $18.72 and a two-hundred day simple moving average of $14.52. D-Wave Quantum Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $29.18.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, equities analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the sale, the director owned 47,778 shares of the company’s stock, valued at $856,659.54. The trade was a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the sale, the director directly owned 36,295 shares of the company’s stock, valued at $650,769.35. This trade represents a 18.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,000 shares of company stock valued at $2,937,740 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.