SBI Securities Co. Ltd. Acquires 24,524 Shares of D-Wave Quantum Inc. $QBTS

SBI Securities Co. Ltd. boosted its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 13.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 207,188 shares of the company’s stock after buying an additional 24,524 shares during the period. SBI Securities Co. Ltd. owned approximately 0.07% of D-Wave Quantum worth $3,033,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Reyes Financial Architecture Inc. acquired a new stake in shares of D-Wave Quantum during the second quarter worth $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at $29,000. Parallel Advisors LLC increased its position in shares of D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after purchasing an additional 1,532 shares during the period. Gables Capital Management Inc. bought a new stake in D-Wave Quantum during the second quarter worth about $37,000. Finally, Huntington National Bank acquired a new position in shares of D-Wave Quantum in the 2nd quarter valued at approximately $41,000. 42.47% of the stock is owned by institutional investors.

Insider Buying and Selling at D-Wave Quantum

In related news, Director Rohit Ghai sold 10,000 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 $179,300.00. Following the transaction, the director owned 47,778 shares of the company’s stock, valued at approximately $856,659.54. This trade represents a 17.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Markovich sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $16.30, for a total value of $815,000.00. Following the sale, the chief financial officer directly owned 1,599,511 shares of the company’s stock, valued at $26,072,029.30. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 107,363 shares of company stock valued at $2,859,478 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $26.25 on Thursday. The business has a 50-day simple moving average of $28.85 and a 200 day simple moving average of $20.09. D-Wave Quantum Inc. has a one year low of $1.41 and a one year high of $46.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of -19.44 and a beta of 1.53.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating 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 the consensus estimate of $3.03 million. The company’s quarterly revenue was up 105.6% on a year-over-year basis. On average, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on QBTS shares. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Rosenblatt Securities boosted their target price on shares of D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Canaccord Genuity Group upped their target price on D-Wave Quantum from $20.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of D-Wave Quantum in a report on Tuesday, October 14th. Finally, Piper Sandler raised their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, D-Wave Quantum has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

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.