Intech Investment Management LLC Has $2.87 Million Stake in D-Wave Quantum Inc. $QBTS

Intech Investment Management LLC grew its position in D-Wave Quantum Inc. (NYSE:QBTS) by 282.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,885 shares of the company’s stock after purchasing an additional 144,676 shares during the period. Intech Investment Management LLC owned approximately 0.07% of D-Wave Quantum worth $2,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Reyes Financial Architecture Inc. acquired a new stake in D-Wave Quantum in the 2nd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp bought a new position in shares of D-Wave Quantum during the 2nd quarter worth approximately $29,000. Parallel Advisors LLC grew its stake in shares of D-Wave Quantum by 227.3% during the 2nd 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. Gables Capital Management Inc. acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $37,000. Finally, Huntington National Bank bought a new stake in shares of D-Wave Quantum in the second quarter worth $41,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John D. Dilullo sold 8,000 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 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 trade represents a 18.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $179,300.00. Following the sale, the director directly owned 47,778 shares of the company’s stock, valued at $856,659.54. The trade was a 17.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,179,813 shares of company stock worth $32,303,986. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on QBTS shares. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (e+)” rating on shares of D-Wave Quantum in a research note on Tuesday, October 14th. Piper Sandler lifted their target price on D-Wave Quantum from $13.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Cantor Fitzgerald upped their target price on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Rosenblatt Securities increased their price target on D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, D-Wave Quantum presently has an average rating of “Moderate Buy” and a consensus target price of $28.67.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $23.41 on Thursday. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $29.61 and its two-hundred day moving average price is $20.65. The company has a market cap of $8.20 billion, a PE ratio of -17.34 and a beta of 1.53. D-Wave Quantum Inc. has a twelve month low of $1.53 and a twelve month high of $46.75.

D-Wave Quantum (NYSE:QBTS) last released 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. The company had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.D-Wave Quantum’s revenue was up 105.6% on a year-over-year basis. On average, analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

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.