Orion Porfolio Solutions LLC Grows Stock Holdings in D-Wave Quantum Inc. $QBTS

Orion Porfolio Solutions LLC lifted its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 100.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,281 shares of the company’s stock after purchasing an additional 56,381 shares during the period. Orion Porfolio Solutions LLC’s holdings in D-Wave Quantum were worth $2,774,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $29,000. Financial Consulate Inc. purchased a new position in D-Wave Quantum during the third quarter worth approximately $31,000. Huntington National Bank acquired a new position in D-Wave Quantum during the second quarter worth $41,000. GAMMA Investing LLC grew its holdings in D-Wave Quantum by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after buying an additional 482 shares in the last quarter. Finally, Nvwm LLC purchased a new stake in D-Wave Quantum in the 3rd quarter valued at $52,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total value of $144,080.00. Following the completion of the sale, the director owned 19,803 shares in the company, valued at approximately $356,652.03. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John M. Markovich sold 9,179 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total value of $257,562.74. Following the completion of the sale, the chief financial officer directly owned 1,462,133 shares in the company, valued at approximately $41,027,451.98. The trade was a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 967,466 shares of company stock valued at $28,820,666 over the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

QBTS has been the subject of a number of recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $43.00 target price on shares of D-Wave Quantum in a research note on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday, December 29th. Mizuho reduced their target price on shares of D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Roth Mkm decreased their target price on shares of D-Wave Quantum from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Jefferies Financial Group started coverage on shares of D-Wave Quantum in a research note on Tuesday, December 16th. They issued a “buy” rating and a $45.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.50.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $19.05 on Tuesday. The firm has a market cap of $7.05 billion, a PE ratio of -17.32 and a beta of 1.61. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. D-Wave Quantum Inc. has a 52 week low of $4.49 and a 52 week high of $46.75. The business’s fifty day simple moving average is $23.13 and its 200-day simple moving average is $25.10.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The company had revenue of $2.75 million during the quarter, compared to analysts’ expectations of $3.74 million. The business’s quarterly revenue was up 21.7% on a year-over-year basis. Equities analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

D-Wave Quantum Profile

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.