Eagle Strategies LLC Takes Position in D-Wave Quantum Inc. $QBTS

Eagle Strategies LLC purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 44,475 shares of the company’s stock, valued at approximately $1,099,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Marex Group plc acquired a new position in D-Wave Quantum in the second quarter worth $80,070,000. Arrowstreet Capital Limited Partnership bought a new position in shares of D-Wave Quantum in the second quarter valued at about $45,372,000. State Street Corp raised its holdings in shares of D-Wave Quantum by 41.3% in the second quarter. State Street Corp now owns 6,648,395 shares of the company’s stock valued at $97,333,000 after buying an additional 1,941,762 shares during the last quarter. Geode Capital Management LLC lifted its position in D-Wave Quantum by 41.6% during the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock worth $93,877,000 after buying an additional 1,883,109 shares in the last quarter. Finally, Man Group plc bought a new stake in D-Wave Quantum during the 2nd quarter worth about $26,535,000. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $28.08 on Friday. 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 has a market capitalization of $9.83 billion, a P/E ratio of -20.80 and a beta of 1.57. The business has a 50-day moving average of $26.84 and a 200-day moving average of $23.07. D-Wave Quantum Inc. has a 1 year low of $3.74 and a 1 year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The business had revenue of $3.74 million for 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 business’s revenue was up 105.6% compared to the same quarter last year. On average, equities analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Activity

In other D-Wave Quantum news, CFO John M. Markovich sold 200,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $22.94, for a total value of $4,588,000.00. Following the completion of the sale, the chief financial officer directly owned 1,482,874 shares in the company, valued at $34,017,129.56. This represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alan E. Baratz sold 806,288 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the sale, the chief executive officer owned 2,801,265 shares in the company, valued at $80,872,520.55. This trade represents a 22.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,342,087 shares of company stock valued at $66,073,024 in the last quarter. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, December 16th. They set a “buy” rating and a $45.00 target price on the stock. Wall Street Zen downgraded D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Mizuho started coverage on D-Wave Quantum in a research report on Thursday, December 11th. They issued an “outperform” rating and a $46.00 price objective on the stock. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Williams Trading set a $35.00 price target on D-Wave Quantum in a research note on Monday, November 10th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.67.

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.