Gables Capital Management Inc. Acquires Shares of 2,500 D-Wave Quantum Inc. $QBTS

Gables Capital Management Inc. acquired a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,500 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QBTS. Vanguard Group Inc. raised its position in D-Wave Quantum by 58.5% during the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock valued at $85,766,000 after purchasing an additional 4,166,721 shares during the period. Penserra Capital Management LLC raised its position in D-Wave Quantum by 80.1% during the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock valued at $38,518,000 after purchasing an additional 2,253,741 shares during the period. UNICOM Systems Inc. raised its position in D-Wave Quantum by 91.9% during the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock valued at $35,171,000 after purchasing an additional 2,216,000 shares during the period. Trexquant Investment LP purchased a new stake in D-Wave Quantum during the first quarter valued at approximately $8,064,000. Finally, Headlands Technologies LLC purchased a new stake in D-Wave Quantum during the first quarter valued at approximately $6,883,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of D-Wave Quantum in a research report on Monday, August 4th. Piper Sandler increased their price target on D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Zacks Research downgraded D-Wave Quantum from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Canaccord Genuity Group started coverage on D-Wave Quantum in a report on Wednesday, July 23rd. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Stifel Nicolaus started coverage on D-Wave Quantum in a report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.27.

Insider Transactions at D-Wave Quantum

In other news, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director owned 36,295 shares in the company, valued at approximately $650,769.35. This represents a 18.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John M. Markovich sold 100,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total value of $1,800,000.00. Following the sale, the chief financial officer owned 1,558,753 shares of the company’s stock, valued at approximately $28,057,554. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,363 shares of company stock worth $4,659,478 in the last ninety days. 3.20% of the stock is owned by company insiders.

D-Wave Quantum Stock Down 15.4%

Shares of NYSE:QBTS opened at $27.24 on Thursday. D-Wave Quantum Inc. has a 52-week low of $0.98 and a 52-week high of $46.75. The stock has a market cap of $9.32 billion, a P/E ratio of -25.94 and a beta of 1.49. The business’s 50 day moving average is $24.10 and its 200 day moving average is $17.34. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS) last announced 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). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum’s quarterly revenue was up 40.9% compared to the same quarter last year. Sell-side analysts predict 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.