Baader Bank Aktiengesellschaft Raises Stock Position in D-Wave Quantum Inc. $QBTS

Baader Bank Aktiengesellschaft lifted its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 12.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 43,759 shares of the company’s stock after acquiring an additional 4,677 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in D-Wave Quantum were worth $641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new position in D-Wave Quantum in the 4th quarter worth $26,000. Reyes Financial Architecture Inc. purchased a new stake in shares of D-Wave Quantum during the second quarter worth about $29,000. Parallel Advisors LLC lifted its stake 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 acquiring an additional 1,532 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in D-Wave Quantum by 133.9% in the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Signaturefd LLC grew its stake in D-Wave Quantum by 106.1% during the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after purchasing an additional 2,971 shares in the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director directly owned 36,295 shares in the company, valued at approximately $650,769.35. This trade represents a 18.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John M. Markovich sold 50,000 shares of D-Wave Quantum stock in a transaction 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 completion of the transaction, the chief financial officer owned 1,599,511 shares in the company, valued at $26,072,029.30. The trade was a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,000 shares of company stock valued at $2,937,740 over the last ninety days. Insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Up 6.3%

Shares of D-Wave Quantum stock opened at $23.97 on Friday. The company has a market capitalization of $8.20 billion, a P/E ratio of -22.83 and a beta of 1.39. The business’s fifty day moving average price is $17.16 and its two-hundred day moving average price is $13.26. D-Wave Quantum Inc. has a 1-year low of $0.87 and a 1-year high of $24.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. D-Wave Quantum’s revenue for the quarter was up 40.9% on a year-over-year basis. As a group, research analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on QBTS. Rosenblatt Securities began coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They set a “buy” rating and a $30.00 target price for the company. B. Riley upped their price target on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of D-Wave Quantum in a report on Monday, August 4th. Stifel Nicolaus started coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, D-Wave Quantum has an average rating of “Buy” and an average price target of $19.27.

D-Wave Quantum 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.