Caitong International Asset Management Co. Ltd Has $299,000 Holdings in D-Wave Quantum Inc. $QBTS

Caitong International Asset Management Co. Ltd lessened its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 84.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,441 shares of the company’s stock after selling 109,345 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in D-Wave Quantum were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Reyes Financial Architecture Inc. bought a new stake in D-Wave Quantum in the 2nd quarter worth about $29,000. Parallel Advisors LLC grew its position in D-Wave Quantum by 227.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after purchasing an additional 1,532 shares in the last quarter. Gables Capital Management Inc. bought a new stake in D-Wave Quantum in the 2nd quarter worth about $37,000. Russell Investments Group Ltd. grew its position in D-Wave Quantum by 133.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after purchasing an additional 3,165 shares in the last quarter. Finally, Signaturefd LLC grew its position in D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after purchasing an additional 2,971 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on QBTS shares. Piper Sandler upped their price objective on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Canaccord Genuity Group started coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They issued a “buy” rating and a $20.00 price objective for the company. Zacks Research downgraded shares of D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of D-Wave Quantum in a research report on Monday, August 4th. Finally, Rosenblatt Securities started coverage on shares of D-Wave Quantum in a research report on Tuesday, July 29th. They issued a “buy” rating and a $30.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.27.

Insider Activity at D-Wave Quantum

In related news, Director Rohit Ghai sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the completion of the transaction, the director directly owned 47,778 shares of the company’s stock, valued at approximately $856,659.54. This trade represents a 17.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John M. Markovich sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $18.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,558,753 shares of the company’s stock, valued at approximately $28,057,554. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 207,363 shares of company stock valued at $4,659,478 over the last quarter. 3.20% of the stock is currently owned by insiders.

D-Wave Quantum Stock Up 14.0%

D-Wave Quantum stock opened at $31.12 on Friday. D-Wave Quantum Inc. has a twelve month low of $0.98 and a twelve month high of $46.75. The firm has a 50 day moving average price of $24.36 and a 200-day moving average price of $17.51. The company has a market capitalization of $10.64 billion, a P/E ratio of -29.64 and a beta of 1.49. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05.

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

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.