Nisa Investment Advisors LLC Purchases 5,542 Shares of D-Wave Quantum Inc. $QBTS

Nisa Investment Advisors LLC increased its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 962.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,118 shares of the company’s stock after purchasing an additional 5,542 shares during the period. Nisa Investment Advisors LLC’s holdings in D-Wave Quantum were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $205,000. State of New Jersey Common Pension Fund D bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $1,448,000. Cornerstone Advisory LLC bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $1,178,000. Freedom Investment Management Inc. bought a new stake in D-Wave Quantum in the second quarter valued at $428,000. Finally, Gables Capital Management Inc. bought a new stake in D-Wave Quantum in the second quarter valued at $37,000. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $29.55 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The firm has a market cap of $10.11 billion, a P/E ratio of -28.14 and a beta of 1.53. The business’s fifty day moving average is $27.26 and its two-hundred day moving average is $19.26. D-Wave Quantum Inc. has a 52 week low of $0.99 and a 52 week high of $46.75.

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

Insiders Place Their Bets

In other D-Wave Quantum news, 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 transaction, the director owned 47,778 shares of the company’s stock, valued at approximately $856,659.54. The trade was a 17.31% 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, CEO Alan E. Baratz sold 31,369 shares of the company’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $43.74, for a total value of $1,372,080.06. Following the transaction, the chief executive officer directly owned 2,801,265 shares in the company, valued at $122,527,331.10. This trade represents a 1.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 207,363 shares of company stock worth $4,659,478 in the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wall Street Zen cut D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Rosenblatt Securities assumed coverage on D-Wave Quantum in a research report on Tuesday, July 29th. They issued a “buy” rating and a $30.00 price target on the stock. B. Riley upped their price target on D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Stifel Nicolaus assumed coverage on D-Wave Quantum in a research report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, Zacks Research cut D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.27.

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.