18,768 Shares in D-Wave Quantum Inc. (NYSE:QBTS) Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,768 shares of the company’s stock, valued at approximately $158,000.

Several other hedge funds have also recently modified their holdings of QBTS. Vanguard Group Inc. raised its position in shares of D-Wave Quantum by 103.7% during the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company’s stock worth $59,794,000 after purchasing an additional 3,624,407 shares during the last quarter. UNICOM Systems Inc. acquired a new position in shares of D-Wave Quantum during the 4th quarter worth about $20,258,000. Geode Capital Management LLC raised its position in shares of D-Wave Quantum by 16.4% during the 4th quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company’s stock worth $24,992,000 after purchasing an additional 418,468 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of D-Wave Quantum during the 4th quarter worth about $2,087,000. Finally, EVR Research LP acquired a new position in shares of D-Wave Quantum during the 4th quarter worth about $1,937,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $12.31 on Friday. The firm has a 50 day simple moving average of $8.00 and a 200-day simple moving average of $6.16. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $12.66. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -29.31 and a beta of 0.90.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to analysts’ expectations of $10.50 million. Equities analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QBTS. Roth Mkm upped their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. B. Riley increased their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, March 14th. Needham & Company LLC increased their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Benchmark increased their price objective on shares of D-Wave Quantum from $8.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $10.17.

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.