Headlands Technologies LLC Has $5.28 Million Position in D-Wave Quantum Inc. $QBTS

Headlands Technologies LLC lessened its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 60.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 360,817 shares of the company’s stock after selling 544,867 shares during the quarter. D-Wave Quantum accounts for approximately 0.6% of Headlands Technologies LLC’s holdings, making the stock its 29th biggest holding. Headlands Technologies LLC’s holdings in D-Wave Quantum were worth $5,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Reyes Financial Architecture Inc. bought a new stake in D-Wave Quantum in the second quarter valued at about $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of D-Wave Quantum in the 2nd quarter valued at approximately $29,000. Parallel Advisors LLC raised its holdings in shares of D-Wave Quantum by 227.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after buying an additional 1,532 shares in the last quarter. Gables Capital Management Inc. bought a new position in shares of D-Wave Quantum during the 2nd quarter worth approximately $37,000. Finally, Huntington National Bank acquired a new stake in D-Wave Quantum in the 2nd quarter valued at $41,000. 42.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on QBTS shares. Mizuho started coverage on D-Wave Quantum in a research note on Thursday. They set an “outperform” rating and a $46.00 price objective for the company. Wall Street Zen upgraded shares of D-Wave Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Evercore ISI started coverage on shares of D-Wave Quantum in a report on Wednesday, December 3rd. They set an “outperform” rating and a $44.00 price target for the company. B. Riley upped their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Benchmark raised their price objective on shares of D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

D-Wave Quantum Price Performance

Shares of QBTS stock opened at $26.18 on Friday. D-Wave Quantum Inc. has a 1 year low of $3.71 and a 1 year high of $46.75. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $29.61 and its 200-day moving average is $22.04. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of -19.39 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The business had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.03 million. The company’s quarterly revenue was up 105.6% on a year-over-year basis. Sell-side analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Transactions at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 168,102 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $23.17, for a total transaction of $3,894,923.34. Following the completion of the sale, the chief executive officer owned 2,633,163 shares in the company, valued at $61,010,386.71. The trade was a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kirstjen Nielsen sold 7,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $22.62, for a total value of $158,340.00. Following the transaction, the director directly owned 112,673 shares in the company, valued at $2,548,663.26. This trade represents a 5.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,444,813 shares of company stock valued at $38,959,206 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Company Profile

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.