D-Wave Quantum Inc. (NYSE:QBTS) Holdings Reduced by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 41.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,325 shares of the company’s stock after selling 78,108 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in D-Wave Quantum were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in QBTS. Summit Investment Advisors Inc. increased its position in D-Wave Quantum by 20.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock valued at $87,000 after acquiring an additional 1,766 shares during the period. Invesco Ltd. lifted its holdings in D-Wave Quantum by 5.1% in the fourth quarter. Invesco Ltd. now owns 42,619 shares of the company’s stock worth $358,000 after purchasing an additional 2,051 shares during the period. Corebridge Financial Inc. lifted its holdings in D-Wave Quantum by 5.0% in the fourth quarter. Corebridge Financial Inc. now owns 49,174 shares of the company’s stock worth $413,000 after purchasing an additional 2,342 shares during the period. Veracity Capital LLC increased its stake in D-Wave Quantum by 9.3% during the 1st quarter. Veracity Capital LLC now owns 29,725 shares of the company’s stock valued at $226,000 after buying an additional 2,532 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of D-Wave Quantum during the 4th quarter worth about $26,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Trading Up 4.1%

D-Wave Quantum stock opened at $16.63 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 20.61 and a current ratio of 20.73. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of -27.72 and a beta of 1.40. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $19.77. The firm’s 50 day moving average price is $14.08 and its two-hundred day moving average price is $9.40.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. On average, research analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 845,813 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the sale, the chief executive officer directly owned 2,866,412 shares of the company’s stock, valued at $48,729,004. The trade was a 22.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rohit Ghai sold 43,517 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.80, for a total transaction of $731,085.60. Following the sale, the director directly owned 57,778 shares in the company, valued at approximately $970,670.40. This trade represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,636,796 shares of company stock worth $27,872,091. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QBTS has been the topic of a number of research analyst reports. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Benchmark reiterated a “buy” rating and set a $20.00 price objective (up previously from $14.00) on shares of D-Wave Quantum in a research note on Tuesday, June 17th. Roth Capital reiterated a “buy” rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Cantor Fitzgerald initiated coverage on shares of D-Wave Quantum in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $20.00 price objective on the stock. Finally, B. Riley reiterated a “buy” rating and set a $20.00 price objective (up previously from $13.00) on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.38.

D-Wave Quantum 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.