Ameritas Investment Partners Inc. Has $431,000 Stake in D-Wave Quantum Inc. $QBTS

Ameritas Investment Partners Inc. boosted its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 59.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,426 shares of the company’s stock after purchasing an additional 10,949 shares during the period. Ameritas Investment Partners Inc.’s holdings in D-Wave Quantum were worth $431,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. acquired a new stake in shares of D-Wave Quantum in the second quarter worth $29,000. Atlantic Union Bankshares Corp purchased a new stake in D-Wave Quantum in the 2nd quarter worth about $29,000. Parallel Advisors LLC boosted 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 acquiring an additional 1,532 shares during the period. Gables Capital Management Inc. acquired a new stake in D-Wave Quantum during the 2nd quarter worth about $37,000. Finally, Huntington National Bank purchased a new position in D-Wave Quantum during the 2nd quarter valued at about $41,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 168,102 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the completion of the transaction, the chief executive officer owned 2,633,163 shares of the company’s stock, valued at $61,010,386.71. The trade was a 6.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $143,440.00. Following the completion of the sale, the director directly owned 36,295 shares in the company, valued at approximately $650,769.35. This represents a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,379,813 shares of company stock valued at $36,891,986 over the last three months. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $22.82 on Friday. The business’s 50-day simple moving average is $29.79 and its 200-day simple moving average is $21.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. D-Wave Quantum Inc. has a 52 week low of $2.50 and a 52 week high of $46.75. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of -16.90 and a beta of 1.53.

D-Wave Quantum (NYSE:QBTS) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The firm had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.03 million. The firm’s revenue for the quarter was up 105.6% on a year-over-year basis. As a group, equities research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QBTS has been the subject of a number of research analyst reports. Piper Sandler increased 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 report on Friday, August 8th. Cantor Fitzgerald increased their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Wall Street Zen raised shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research upgraded shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, B. Riley increased their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, D-Wave Quantum has an average rating of “Moderate Buy” and a consensus target price of $28.67.

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.