World Investment Advisors Buys New Stake in D-Wave Quantum Inc. $QBTS

World Investment Advisors bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,994 shares of the company’s stock, valued at approximately $190,000.

Other large investors have also made changes to their positions in the company. Reyes Financial Architecture Inc. acquired a new stake in D-Wave Quantum in the 2nd quarter worth approximately $29,000. Parallel Advisors LLC raised its position in D-Wave Quantum by 227.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after buying an additional 1,532 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in D-Wave Quantum during the 2nd quarter valued at approximately $37,000. Russell Investments Group Ltd. boosted its holdings in shares of D-Wave Quantum by 133.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after acquiring an additional 3,165 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of D-Wave Quantum by 106.1% in the first 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. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at D-Wave Quantum

In other news, Director John D. Dilullo sold 8,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $650,769.35. This trade represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John M. Markovich sold 100,000 shares of D-Wave Quantum stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $18.00, for a total value of $1,800,000.00. Following the completion of the sale, the chief financial officer directly owned 1,558,753 shares in the company, valued at $28,057,554. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 207,363 shares of company stock valued at $4,659,478. 3.20% of the stock is owned by corporate insiders.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $31.09 on Thursday. The firm has a market cap of $10.63 billion, a PE ratio of -29.61 and a beta of 1.53. The firm has a fifty day moving average of $27.57 and a 200 day moving average of $19.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum Inc. has a one year low of $1.09 and a one year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $3.10 million for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, research analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus initiated coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target on the stock. Roth Capital reaffirmed a “buy” rating on shares of D-Wave Quantum in a report on Wednesday, October 15th. Canaccord Genuity Group initiated coverage on D-Wave Quantum in a report on Wednesday, July 23rd. They issued a “buy” rating and a $20.00 price target for the company. B. Riley raised their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of D-Wave Quantum in a report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.