SPX Gestao de Recursos Ltda Makes New Investment in D-Wave Quantum Inc. $QBTS

SPX Gestao de Recursos Ltda acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the 3rd quarter, HoldingsChannel reports. The fund acquired 44,000 shares of the company’s stock, valued at approximately $1,087,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after acquiring an additional 11,218,255 shares during the period. Marex Group plc purchased a new stake in D-Wave Quantum in the 2nd quarter worth approximately $80,070,000. Arrowstreet Capital Limited Partnership purchased a new stake in D-Wave Quantum in the 2nd quarter worth approximately $45,372,000. State Street Corp grew its stake in shares of D-Wave Quantum by 41.3% during the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company’s stock worth $97,333,000 after purchasing an additional 1,941,762 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of D-Wave Quantum by 41.6% during the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock valued at $93,877,000 after purchasing an additional 1,883,109 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Trading Down 1.1%

QBTS stock opened at $18.62 on Friday. D-Wave Quantum Inc. has a 12-month low of $4.49 and a 12-month high of $46.75. The business’s 50-day moving average is $23.27 and its 200 day moving average is $24.93. The company has a current ratio of 42.38, a quick ratio of 54.49 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -16.93 and a beta of 1.61.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The firm had revenue of $2.75 million during the quarter, compared to analyst estimates of $3.74 million. The firm’s revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at D-Wave Quantum

In other news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total transaction of $144,080.00. Following the completion of the sale, the director owned 19,803 shares of the company’s stock, valued at $356,652.03. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 35,013 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $28.06, for a total transaction of $982,464.78. Following the completion of the sale, the chief executive officer owned 2,598,150 shares of the company’s stock, valued at $72,904,089. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 967,466 shares of company stock worth $28,820,666. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QBTS. Canaccord Genuity Group set a $43.00 target price on shares of D-Wave Quantum in a research note on Thursday, January 29th. Benchmark reiterated a “buy” rating and issued a $35.00 price objective on shares of D-Wave Quantum in a research report on Friday, January 23rd. Needham & Company LLC dropped their target price on D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen cut D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, Williams Trading set a $35.00 price objective on D-Wave Quantum in a report on Monday, November 10th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Moderate Buy” and an average price target of $36.50.

About D-Wave Quantum

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.