Blair William & Co. IL Purchases 2,503 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Blair William & Co. IL grew its position in D-Wave Quantum Inc. (NYSE:QBTS) by 9.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,438 shares of the company’s stock after acquiring an additional 2,503 shares during the quarter. Blair William & Co. IL’s holdings in D-Wave Quantum were worth $231,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $26,000. Signaturefd LLC lifted its position in shares of D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after acquiring an additional 2,971 shares during the period. Amalgamated Bank lifted its position in shares of D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock worth $48,000 after acquiring an additional 3,266 shares during the period. IFP Advisors Inc lifted its position in shares of D-Wave Quantum by 231.0% in the 1st quarter. IFP Advisors Inc now owns 6,620 shares of the company’s stock worth $50,000 after acquiring an additional 4,620 shares during the period. Finally, KBC Group NV bought a new stake in shares of D-Wave Quantum in the 1st quarter worth approximately $69,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $18.54 on Wednesday. D-Wave Quantum Inc. has a 1 year low of $0.80 and a 1 year high of $20.56. The firm has a 50 day moving average of $16.73 and a 200-day moving average of $11.31. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.42 billion, a P/E ratio of -17.66 and a beta of 1.41.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Kirstjen Nielsen sold 58,644 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.21, for a total transaction of $950,619.24. Following the transaction, the director owned 132,673 shares of the company’s stock, valued at $2,150,629.33. This represents a 30.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger Biscay sold 106,626 shares of D-Wave Quantum stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.85, for a total value of $1,796,648.10. Following the completion of the sale, the director owned 14,260 shares of the company’s stock, valued at approximately $240,281. The trade was a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,636,796 shares of company stock worth $27,872,091. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on QBTS shares. Piper Sandler raised their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Rosenblatt Securities started coverage on shares of D-Wave Quantum in a research note on Tuesday, July 29th. They set a “buy” rating and a $30.00 price target for the company. Canaccord Genuity Group started coverage on shares of D-Wave Quantum in a research note on Wednesday, July 23rd. They set a “buy” rating and a $20.00 price target for the company. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Finally, Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.27.

About D-Wave Quantum

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.