EP Wealth Advisors LLC Purchases New Shares in D-Wave Quantum Inc. (NYSE:QBTS)

EP Wealth Advisors LLC purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,122 shares of the company’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. acquired a new stake in D-Wave Quantum during the fourth quarter worth about $38,000. Heritage Wealth Advisors acquired a new stake in D-Wave Quantum during the fourth quarter worth about $67,000. Kingsview Wealth Management LLC acquired a new stake in D-Wave Quantum during the fourth quarter worth about $84,000. Summit Investment Advisors Inc. grew its stake in D-Wave Quantum by 20.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock worth $87,000 after buying an additional 1,766 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in D-Wave Quantum during the fourth quarter worth about $90,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Benchmark increased their price objective on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday. Roth Mkm increased their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. B. Riley raised their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, Needham & Company LLC raised their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $10.17.

D-Wave Quantum Trading Down 0.5%

QBTS opened at $11.03 on Friday. The company’s 50 day moving average is $7.86 and its 200-day moving average is $6.05. The company has a market cap of $3.21 billion, a P/E ratio of -26.26 and a beta of 0.90. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $12.49.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. On average, equities analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

D-Wave Quantum Company 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.