Barclays PLC Boosts Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Barclays PLC raised its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 27.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,102 shares of the company's stock after purchasing an additional 33,073 shares during the period. Barclays PLC owned 0.06% of D-Wave Quantum worth $1,285,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in D-Wave Quantum in the 4th quarter worth about $38,000. Heritage Wealth Advisors purchased a new stake in shares of D-Wave Quantum during the fourth quarter worth approximately $67,000. Kingsview Wealth Management LLC acquired a new position in D-Wave Quantum in the 4th quarter valued at $84,000. Summit Investment Advisors Inc. lifted 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 valued at $87,000 after purchasing an additional 1,766 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in D-Wave Quantum during the 4th quarter worth $90,000. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Stock Down 0.5 %

NYSE:QBTS traded down $0.04 on Tuesday, reaching $7.25. The company's stock had a trading volume of 17,995,337 shares, compared to its average volume of 34,742,029. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -17.25 and a beta of 0.90. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $11.95. The stock has a 50 day moving average price of $7.12 and a 200 day moving average price of $5.63.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The firm had revenue of $2.31 million for the quarter, compared to analyst estimates of $2.23 million. Equities research analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. B. Riley raised their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Needham & Company LLC restated a "buy" rating and set a $8.50 target price on shares of D-Wave Quantum in a report on Wednesday, April 2nd. Benchmark reiterated a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Friday, March 14th. Finally, Roth Mkm upped their target price on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum presently has an average rating of "Buy" and a consensus target price of $8.42.

About D-Wave Quantum

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.