Jupiter Topco LLC Takes Position in D-Wave Quantum Inc. $QBTS

Jupiter Topco LLC bought a new position in D-Wave Quantum Inc. (NASDAQ:QBTS) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 159,973 shares of the company’s stock, valued at approximately $3,836,000.

Several other large investors have also recently modified their holdings of QBTS. Root Financial Partners LLC boosted its stake in D-Wave Quantum by 388.0% during the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock worth $26,000 after buying an additional 776 shares during the period. Fiduciary Financial Advisors purchased a new stake in shares of D-Wave Quantum in the second quarter valued at $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of D-Wave Quantum in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of D-Wave Quantum by 267.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $30,000 after acquiring an additional 838 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of D-Wave Quantum in the 4th quarter worth about $31,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $16.54 on Wednesday. The company has a 50 day moving average price of $19.67 and a 200-day moving average price of $20.11. 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 fifty-two week low of $12.75 and a fifty-two week high of $46.75. The company has a market capitalization of $6.12 billion, a PE ratio of -23.30 and a beta of 2.15.

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

Insiders Place Their Bets

In other D-Wave Quantum news, Director John D. Dilullo sold 7,850 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $24.43, for a total transaction of $191,775.50. Following the transaction, the director directly owned 21,310 shares in the company, valued at $520,603.30. This represents a 26.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Sophie C. Ames sold 3,070 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $16.95, for a total transaction of $52,036.50. Following the transaction, the vice president owned 589,009 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 1,009,157 shares of company stock worth $26,155,555. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Mizuho increased their price objective on shares of D-Wave Quantum from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Roth Capital restated a “buy” rating and set a $30.00 target price on shares of D-Wave Quantum in a research report on Thursday, August 6th. Weiss Ratings raised D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of D-Wave Quantum in a report on Tuesday, June 2nd. Finally, Zacks Research lowered D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.27.

D-Wave Quantum 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.