D-Wave Quantum Inc. $QBTS Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC grew its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 409,225 shares of the company’s stock after acquiring an additional 38,833 shares during the quarter. Foundations Investment Advisors LLC’s holdings in D-Wave Quantum were worth $5,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of D-Wave Quantum by 58.5% in the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock valued at $85,766,000 after buying an additional 4,166,721 shares in the last quarter. Geode Capital Management LLC boosted its holdings in D-Wave Quantum by 41.6% during the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock valued at $93,877,000 after acquiring an additional 1,883,109 shares during the period. Trexquant Investment LP acquired a new position in D-Wave Quantum in the 1st quarter valued at about $8,064,000. Headlands Technologies LLC purchased a new stake in D-Wave Quantum during the first quarter worth about $6,883,000. Finally, Northern Trust Corp lifted its position in shares of D-Wave Quantum by 63.4% during the first quarter. Northern Trust Corp now owns 1,597,981 shares of the company’s stock worth $12,145,000 after purchasing an additional 619,894 shares in the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Trading Up 0.6%

QBTS opened at $23.53 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. D-Wave Quantum Inc. has a one year low of $1.41 and a one year high of $46.75. The company has a market cap of $8.24 billion, a P/E ratio of -17.43 and a beta of 1.53. The business’s 50-day simple moving average is $29.17 and its 200-day simple moving average is $20.32.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business’s revenue was up 105.6% on a year-over-year basis. As a group, equities research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity at D-Wave Quantum

In other news, Director Rohit Ghai sold 10,000 shares of the company’s stock in a transaction 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 owned 47,778 shares in the company, valued at approximately $856,659.54. This represents a 17.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Alan E. Baratz sold 168,102 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the completion of the transaction, the chief executive officer directly owned 2,633,163 shares in the company, valued at $61,010,386.71. This trade represents a 6.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,179,813 shares of company stock worth $32,303,986 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Stifel Nicolaus began coverage on shares of D-Wave Quantum in a research note on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of D-Wave Quantum in a report on Tuesday, October 14th. Piper Sandler boosted their target price on D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Finally, Williams Trading set a $35.00 price target on D-Wave Quantum in a research report on Monday, November 10th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.67.

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.