EAM Investors LLC bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 134,014 shares of the company's stock, valued at approximately $1,126,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Insigneo Advisory Services LLC purchased a new stake in shares of D-Wave Quantum during the fourth quarter worth about $147,000. Mariner LLC bought a new position in shares of D-Wave Quantum during the fourth quarter valued at approximately $222,000. Barclays PLC lifted its stake in D-Wave Quantum by 27.6% in the fourth quarter. Barclays PLC now owns 153,102 shares of the company's stock worth $1,285,000 after acquiring an additional 33,073 shares during the period. Savvy Advisors Inc. bought a new stake in D-Wave Quantum in the fourth quarter valued at $285,000. Finally, Summit Investment Advisors Inc. raised its holdings in D-Wave Quantum by 20.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock worth $87,000 after purchasing an additional 1,766 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors.
D-Wave Quantum Stock Performance
Shares of QBTS stock traded down $0.06 during mid-day trading on Friday, hitting $6.39. The company's stock had a trading volume of 14,109,297 shares, compared to its average volume of 33,727,652. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.95. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -15.20 and a beta of 0.88. The business has a 50-day moving average price of $6.98 and a 200 day moving average price of $5.10.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.28). The firm had revenue of $2.31 million for the quarter, compared to analysts' expectations of $2.23 million. Equities research analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.
Insider Activity at D-Wave Quantum
In other news, CFO John M. Markovich sold 5,582 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the sale, the chief financial officer now owns 1,064,556 shares of the company's stock, valued at $5,610,210.12. The trade was a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alan E. Baratz sold 8,372 shares of the business's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the sale, the chief executive officer now directly owns 2,342,208 shares of the company's stock, valued at $12,343,436.16. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. 7.22% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on QBTS. Benchmark reissued a "buy" rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and issued a $8.50 price objective on shares of D-Wave Quantum in a report on Wednesday, April 2nd. Roth Mkm upped their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Craig Hallum boosted their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, B. Riley raised their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $8.42.
Get Our Latest Stock Analysis on QBTS
About D-Wave Quantum
(
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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