Intech Investment Management LLC Purchases 144,676 Shares of D-Wave Quantum Inc. $QBTS

Intech Investment Management LLC increased its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 282.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 195,885 shares of the company’s stock after purchasing an additional 144,676 shares during the quarter. Intech Investment Management LLC’s holdings in D-Wave Quantum were worth $2,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisory Group Advisory Services LLC increased its position in D-Wave Quantum by 3.0% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company’s stock worth $325,000 after buying an additional 646 shares during the period. Center for Financial Planning Inc. boosted its position in shares of D-Wave Quantum by 23.6% in the second quarter. Center for Financial Planning Inc. now owns 3,645 shares of the company’s stock valued at $53,000 after acquiring an additional 695 shares during the period. bLong Financial LLC grew its stake in shares of D-Wave Quantum by 5.2% in the first quarter. bLong Financial LLC now owns 24,092 shares of the company’s stock valued at $183,000 after acquiring an additional 1,200 shares in the last quarter. Baird Financial Group Inc. increased its position in D-Wave Quantum by 12.0% during the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after acquiring an additional 1,300 shares during the period. Finally, Signaturefd LLC increased its position in D-Wave Quantum by 24.2% during the second quarter. Signaturefd LLC now owns 7,168 shares of the company’s stock worth $105,000 after acquiring an additional 1,397 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QBTS. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price objective for the company. Cantor Fitzgerald lifted their price target on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Benchmark boosted their price target on D-Wave Quantum from $20.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Wall Street Zen raised D-Wave Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, B. Riley lifted their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

Insiders Place Their Bets

In other news, CEO Alan E. Baratz sold 806,288 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the completion of the transaction, the chief executive officer owned 2,801,265 shares of the company’s stock, valued at approximately $80,872,520.55. The trade was a 22.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John D. Dilullo sold 8,000 shares of the company’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 $143,440.00. Following the sale, the director owned 36,295 shares of the company’s stock, 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. In the last quarter, insiders have sold 1,179,813 shares of company stock worth $32,303,986. 3.20% of the stock is currently owned by company insiders.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $23.41 on Thursday. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. The company has a market cap of $8.20 billion, a PE ratio of -17.34 and a beta of 1.53. The company has a 50 day moving average of $29.61 and a 200-day moving average of $20.65. D-Wave Quantum Inc. has a 1-year low of $1.53 and a 1-year high of $46.75.

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