Voya Investment Management LLC Sells 23,250 Shares of D-Wave Quantum Inc. $QBTS

Voya Investment Management LLC cut its position in D-Wave Quantum Inc. (NYSE:QBTS) by 29.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,803 shares of the company’s stock after selling 23,250 shares during the period. Voya Investment Management LLC’s holdings in D-Wave Quantum were worth $1,379,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in D-Wave Quantum by 125.7% during the 2nd quarter. Osaic Holdings Inc. now owns 247,004 shares of the company’s stock worth $3,616,000 after purchasing an additional 137,549 shares in the last quarter. IFP Advisors Inc boosted its position in shares of D-Wave Quantum by 123.8% during the second quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock valued at $217,000 after buying an additional 8,194 shares during the last quarter. World Investment Advisors bought a new stake in D-Wave Quantum during the second quarter worth $190,000. Farther Finance Advisors LLC raised its position in D-Wave Quantum by 491.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 16,321 shares of the company’s stock valued at $239,000 after buying an additional 13,561 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in D-Wave Quantum during the 2nd quarter valued at $14,349,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Wedbush assumed coverage on shares of D-Wave Quantum in a report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price target on the stock. Williams Trading set a $35.00 price objective on shares of D-Wave Quantum in a research report on Monday, November 10th. Benchmark lifted their target price on shares of D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Roth Capital set a $40.00 target price on D-Wave Quantum in a report on Thursday, November 6th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.67.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $26.14 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of -19.36 and a beta of 1.58. D-Wave Quantum Inc. has a 52 week low of $3.74 and a 52 week high of $46.75. The firm’s 50-day simple moving average is $27.17 and its two-hundred day simple moving average is $22.81.

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

Insiders Place Their Bets

In other D-Wave Quantum news, CFO John M. Markovich sold 100,000 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $30.03, for a total value of $3,003,000.00. Following the sale, the chief financial officer directly owned 1,471,312 shares in the company, valued at $44,183,499.36. The trade was a 6.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $24.28, for a total value of $242,800.00. Following the transaction, the director owned 37,778 shares of the company’s stock, valued at $917,249.84. The trade was a 20.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,342,087 shares of company stock valued at $66,073,024. Company insiders own 3.20% of the company’s stock.

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.