Citizens Financial Group Inc. RI bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 78,283 shares of the company's stock, valued at approximately $658,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QBTS. Penserra Capital Management LLC raised its stake in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company's stock worth $4,409,000 after acquiring an additional 839,942 shares during the period. State Street Corp boosted its holdings in D-Wave Quantum by 0.9% in the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company's stock worth $1,986,000 after buying an additional 17,225 shares during the period. Barclays PLC increased its stake in D-Wave Quantum by 298.3% in the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock worth $117,000 after buying an additional 89,894 shares in the last quarter. Geode Capital Management LLC raised its holdings in D-Wave Quantum by 33.8% during the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company's stock valued at $2,513,000 after acquiring an additional 645,039 shares during the period. Finally, Silverleafe Capital Partners LLC purchased a new position in shares of D-Wave Quantum in the fourth quarter valued at about $820,000. 42.47% of the stock is owned by hedge funds and other institutional investors.
D-Wave Quantum Price Performance
Shares of D-Wave Quantum stock traded up $1.08 during trading on Thursday, hitting $6.90. The stock had a trading volume of 130,088,857 shares, compared to its average volume of 77,468,672. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.41. The firm's fifty day simple moving average is $6.05 and its 200-day simple moving average is $3.80. The stock has a market cap of $1.86 billion, a PE ratio of -16.42 and a beta of 1.12.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). Analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Craig Hallum increased their target price on D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Needham & Company LLC reiterated a "buy" rating and set a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. B. Riley upped their target price on shares of D-Wave Quantum from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Roth Mkm raised their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, Benchmark reaffirmed a "buy" rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum currently has a consensus rating of "Buy" and a consensus target price of $6.71.
View Our Latest Stock Report on QBTS
Insider Activity at D-Wave Quantum
In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at $12,343,436.16. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $6.14, for a total value of $17,060,382.96. Following the completion of the sale, the insider now owns 37,278,688 shares of the company's stock, valued at $228,891,144.32. This represents a 6.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,071,206 shares of company stock worth $53,438,181 in the last quarter. 7.22% of the stock is owned by company insiders.
D-Wave Quantum Company Profile
(
Free Report)
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.
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