Mutual Advisors LLC Acquires Shares of 43,257 D-Wave Quantum Inc. $QBTS

Mutual Advisors LLC bought a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 43,257 shares of the company’s stock, valued at approximately $1,069,000.

A number of other large investors have also recently made changes to their positions in the stock. Baird Financial Group Inc. grew its holdings in shares of D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after purchasing an additional 1,300 shares during the last quarter. Royal Bank of Canada raised its stake in shares of D-Wave Quantum by 59.8% during the first quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after acquiring an additional 60,668 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 201.0% in the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock worth $1,526,000 after buying an additional 134,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of D-Wave Quantum by 93.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock valued at $825,000 after buying an additional 52,437 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in D-Wave Quantum by 125.7% in the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after acquiring an additional 24,382 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QBTS. Wall Street Zen upgraded shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Jefferies Financial Group initiated coverage on D-Wave Quantum in a research note on Tuesday, December 16th. They set a “buy” rating and a $45.00 price objective for the company. Cantor Fitzgerald lifted their target price on D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $43.00 price target on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Finally, Benchmark restated a “buy” rating and issued a $35.00 price target on shares of D-Wave Quantum in a report on Friday, January 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.21.

Insider Buying and Selling at D-Wave Quantum

In other news, Director Kirstjen Nielsen sold 7,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.62, for a total transaction of $158,340.00. Following the transaction, the director owned 112,673 shares of the company’s stock, valued at approximately $2,548,663.26. The trade was a 5.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rohit Ghai sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $24.28, for a total transaction of $242,800.00. Following the sale, the director owned 37,778 shares of the company’s stock, valued at $917,249.84. This represents a 20.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,346,916 shares of company stock valued at $65,591,314. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Down 6.2%

QBTS stock opened at $20.07 on Thursday. D-Wave Quantum Inc. has a 12 month low of $4.45 and a 12 month high of $46.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The company has a market capitalization of $7.42 billion, a P/E ratio of -14.87 and a beta of 1.56. The firm’s fifty day simple moving average is $26.33 and its 200-day simple moving average is $24.78.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 net margin of 1,651.81% and a negative return on equity of 97.58%. D-Wave Quantum’s quarterly revenue was up 105.6% on a year-over-year basis. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.