230,711 Shares in D-Wave Quantum Inc. $QBTS Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new stake in D-Wave Quantum Inc. (NASDAQ:QBTS) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 230,711 shares of the company’s stock, valued at approximately $5,535,000. Nicholas Investment Partners LP owned about 0.06% of D-Wave Quantum at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its holdings in shares of D-Wave Quantum by 9.2% in the 2nd quarter. CoreCap Advisors LLC now owns 6,115 shares of the company’s stock valued at $147,000 after purchasing an additional 515 shares in the last quarter. Sigma Planning Corp increased its stake in shares of D-Wave Quantum by 3.6% in the 4th quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock valued at $431,000 after purchasing an additional 560 shares during the last quarter. AlphaStar Capital Management LLC raised its holdings in shares of D-Wave Quantum by 2.2% during the 4th quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company’s stock worth $708,000 after buying an additional 592 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of D-Wave Quantum by 0.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company’s stock worth $3,447,000 after buying an additional 602 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of D-Wave Quantum by 0.7% during the 4th quarter. Arizona State Retirement System now owns 92,037 shares of the company’s stock worth $2,407,000 after buying an additional 613 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Stock Down 8.4%

Shares of QBTS opened at $18.68 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 20.42 and a current ratio of 20.55. D-Wave Quantum Inc. has a 52 week low of $12.75 and a 52 week high of $46.75. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -26.31 and a beta of 2.15. The stock has a fifty day moving average of $20.47 and a 200-day moving average of $20.21.

D-Wave Quantum (NASDAQ:QBTS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The firm had revenue of $3.08 million for the quarter, compared to the consensus estimate of $4.03 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The company’s revenue was down 0.6 on a year-over-year basis. As a group, sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Rohit Ghai sold 13,518 shares of D-Wave Quantum stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $26.41, for a total transaction of $357,010.38. Following the sale, the director directly owned 23,617 shares in the company, valued at $623,724.97. This trade represents a 36.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Sophie C. Ames sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $16.95, for a total transaction of $52,036.50. Following the sale, the vice president directly owned 589,009 shares in the company, valued at $9,983,702.55. The trade was a 0.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,012,065 shares of company stock valued at $26,245,703 over the last three months. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on QBTS shares. Mizuho raised their price objective on D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Benchmark began coverage on shares of D-Wave Quantum in a report on Monday, July 27th. They issued a “buy” rating and a $30.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a research note on Wednesday, May 13th. Finally, Roth Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of D-Wave Quantum in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.27.

D-Wave Quantum Company Profile

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.