VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $655,000 Investment in D-Wave Quantum Inc. $QBTS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in D-Wave Quantum Inc. (NYSE:QBTS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,500 shares of the company’s stock, valued at approximately $655,000.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in D-Wave Quantum by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock worth $46,000 after acquiring an additional 482 shares during the period. bLong Financial LLC boosted its position in shares of D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock worth $361,000 after purchasing an additional 551 shares during the period. Capital Advisory Group Advisory Services LLC increased its stake in shares of D-Wave Quantum by 3.0% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company’s stock worth $325,000 after purchasing an additional 646 shares in the last quarter. Center for Financial Planning Inc. raised its position in shares of D-Wave Quantum by 23.6% during the 2nd quarter. Center for Financial Planning Inc. now owns 3,645 shares of the company’s stock valued at $53,000 after purchasing an additional 695 shares during the period. Finally, CWM LLC lifted its stake in shares of D-Wave Quantum by 18.3% during the 3rd quarter. CWM LLC now owns 6,574 shares of the company’s stock valued at $162,000 after buying an additional 1,018 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Trading Up 7.4%

Shares of D-Wave Quantum stock opened at $28.08 on Monday. D-Wave Quantum Inc. has a twelve month low of $3.74 and a twelve month high of $46.75. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $26.84 and a 200-day moving average price of $23.12. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of -20.80 and a beta of 1.57.

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

Insider Activity

In related news, CFO John M. Markovich sold 200,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $22.94, for a total value of $4,588,000.00. Following the sale, the chief financial officer owned 1,482,874 shares in the company, valued at approximately $34,017,129.56. The trade was a 11.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan E. Baratz sold 806,288 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the sale, the chief executive officer directly owned 2,801,265 shares in the company, valued at approximately $80,872,520.55. The trade was a 22.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 2,342,087 shares of company stock worth $66,073,024. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Roth Capital set a $40.00 price target on D-Wave Quantum in a research note on Thursday, November 6th. Evercore ISI began coverage on D-Wave Quantum in a research note on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 price objective for the company. Wall Street Zen cut D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Canaccord Genuity Group lifted their target price on D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Cantor Fitzgerald boosted their price target on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, D-Wave Quantum currently has an average rating of “Moderate Buy” and an average price target of $33.67.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.