Universal Beteiligungs und Servicegesellschaft mbH Boosts Stake in D-Wave Quantum Inc. $QBTS

Universal Beteiligungs und Servicegesellschaft mbH increased its position in D-Wave Quantum Inc. (NYSE:QBTS) by 133.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 250,387 shares of the company’s stock after purchasing an additional 143,282 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in D-Wave Quantum were worth $6,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in D-Wave Quantum in the second quarter worth $29,000. Financial Consulate Inc. bought a new stake in shares of D-Wave Quantum during the 3rd quarter valued at $31,000. Gables Capital Management Inc. purchased a new stake in shares of D-Wave Quantum in the 2nd quarter worth about $37,000. Huntington National Bank purchased a new stake in shares of D-Wave Quantum in the 2nd quarter worth about $41,000. Finally, GAMMA Investing LLC increased its stake in shares of D-Wave Quantum by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock worth $46,000 after acquiring an additional 482 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Price Performance

Shares of QBTS opened at $23.74 on Tuesday. D-Wave Quantum Inc. has a twelve month low of $4.45 and a twelve month high of $46.75. The company has a market capitalization of $8.31 billion, a P/E ratio of -17.59 and a beta of 1.57. The firm has a 50 day moving average of $26.31 and a 200 day moving average of $24.57. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum’s revenue for the quarter was up 105.6% compared to the same quarter last year. As a group, equities research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 806,288 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total value of $23,277,534.56. Following the completion of the transaction, the chief executive officer owned 2,801,265 shares of the company’s stock, valued at approximately $80,872,520.55. The trade was a 22.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John M. Markovich sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $22.94, for a total transaction of $4,588,000.00. Following the transaction, the chief financial officer owned 1,482,874 shares in the company, valued at $34,017,129.56. This represents a 11.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,346,916 shares of company stock valued at $65,591,314 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on QBTS. Canaccord Genuity Group boosted their price objective on shares of D-Wave Quantum from $20.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Evercore ISI assumed coverage on shares of D-Wave Quantum in a report on Wednesday, December 3rd. They set an “outperform” rating and a $44.00 target price for the company. Wedbush assumed coverage on D-Wave Quantum in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price target on the stock. Zacks Research raised D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Mizuho initiated coverage on D-Wave Quantum in a report on Thursday, December 11th. They issued an “outperform” rating and a $46.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.86.

About D-Wave Quantum

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.