Rhumbline Advisers Has $1.84 Million Stock Position in D-Wave Quantum Inc. $QBTS

Rhumbline Advisers boosted its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 81.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,515 shares of the company’s stock after acquiring an additional 109,110 shares during the quarter. Rhumbline Advisers owned 0.08% of D-Wave Quantum worth $1,843,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vontobel Holding Ltd. boosted its position in D-Wave Quantum by 786.8% during the 1st quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company’s stock worth $842,000 after acquiring an additional 98,350 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in D-Wave Quantum during the 1st quarter worth about $167,000. Swiss National Bank acquired a new stake in D-Wave Quantum during the 1st quarter worth about $3,532,000. Verity Asset Management Inc. acquired a new stake in D-Wave Quantum during the 1st quarter worth about $251,000. Finally, Deutsche Bank AG raised its stake in shares of D-Wave Quantum by 35.0% during the 4th quarter. Deutsche Bank AG now owns 73,906 shares of the company’s stock worth $621,000 after purchasing an additional 19,157 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Stock Performance

Shares of NYSE:QBTS opened at $22.49 on Thursday. The business’s fifty day moving average price is $17.00 and its two-hundred day moving average price is $13.13. D-Wave Quantum Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $22.85. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of -21.42 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86.

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

Insiders Place Their Bets

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the transaction, the director owned 36,295 shares of the company’s stock, valued at approximately $650,769.35. The trade was a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $179,300.00. Following the completion of the transaction, the director directly owned 47,778 shares in the company, valued at approximately $856,659.54. This represents a 17.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,000 shares of company stock valued at $2,937,740. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Roth Capital reaffirmed a “buy” rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of D-Wave Quantum in a research note on Monday, August 4th. B. Riley raised their price target on D-Wave Quantum from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC reissued a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price 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.