Mariner LLC Purchases New Position in D-Wave Quantum Inc. (NYSE:QBTS)

Mariner LLC acquired a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,466 shares of the company’s stock, valued at approximately $222,000.

Several other large investors have also recently bought and sold shares of QBTS. PNC Financial Services Group Inc. acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at $38,000. Heritage Wealth Advisors bought a new stake in shares of D-Wave Quantum in the fourth quarter worth about $67,000. Kingsview Wealth Management LLC acquired a new stake in shares of D-Wave Quantum during the fourth quarter worth about $84,000. Summit Investment Advisors Inc. lifted its holdings in shares of D-Wave Quantum by 20.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock valued at $87,000 after purchasing an additional 1,766 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at approximately $90,000. Institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on QBTS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price target on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Roth Mkm upped their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a report on Friday, March 14th. Finally, B. Riley increased their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum currently has an average rating of “Buy” and a consensus target price of $8.42.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $7.25 on Wednesday. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.95. The company has a market cap of $2.11 billion, a P/E ratio of -17.25 and a beta of 0.90. The stock’s 50-day simple moving average is $7.15 and its 200 day simple moving average is $5.64.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The business had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $2.23 million. As a group, equities analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

D-Wave Quantum Company Profile

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.