CloudAlpha Capital Management Limited Hong Kong Makes New Investment in D-Wave Quantum Inc. $QBTS

CloudAlpha Capital Management Limited Hong Kong acquired a new position in D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 67,300 shares of the company’s stock, valued at approximately $1,760,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QBTS. Ancora Advisors LLC bought a new stake in shares of D-Wave Quantum during the 3rd quarter valued at about $30,000. Valley National Advisers Inc. increased its stake in shares of D-Wave Quantum by 222.2% in the 4th quarter. Valley National Advisers Inc. now owns 1,595 shares of the company’s stock valued at $41,000 after acquiring an additional 1,100 shares in the last quarter. Kelleher Financial Advisors bought a new stake in shares of D-Wave Quantum in the 3rd quarter valued at $40,000. Tucker Asset Management LLC acquired a new position in shares of D-Wave Quantum during the 4th quarter valued at $47,000. Finally, Larson Financial Group LLC lifted its position in shares of D-Wave Quantum by 1,754.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock valued at $46,000 after acquiring an additional 1,754 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Price Performance

Shares of NYSE:QBTS opened at $18.20 on Wednesday. The company has a market capitalization of $6.73 billion, a P/E ratio of -16.10 and a beta of 1.95. The company’s 50-day moving average is $18.05 and its 200 day moving average is $22.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. D-Wave Quantum Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $46.75.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $2.86 million during the quarter, compared to the consensus estimate of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The firm’s quarterly revenue was down 80.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) earnings per share. On average, equities research analysts forecast that D-Wave Quantum Inc. will post -0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on QBTS shares. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a report on Wednesday, May 13th. Benchmark reissued a “buy” rating and set a $35.00 price objective on shares of D-Wave Quantum in a research report on Friday, January 23rd. Canaccord Genuity Group reduced their target price on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen lowered D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, TD Cowen initiated coverage on D-Wave Quantum in a research note on Thursday, February 12th. They set a “buy” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.67.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. Following the completion of the transaction, the director directly owned 27,778 shares of the company’s stock, valued at approximately $489,448.36. This represents a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John M. Markovich sold 10,706 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $17.63, for a total value of $188,746.78. Following the completion of the sale, the chief financial officer directly owned 1,451,427 shares of the company’s stock, valued at $25,588,658.01. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,776 shares of company stock worth $574,571. 3.20% of the stock is currently owned by company insiders.

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.