Bridgeway Capital Management LLC Trims Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Bridgeway Capital Management LLC cut its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 35.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,100 shares of the company's stock after selling 100,000 shares during the period. Bridgeway Capital Management LLC owned approximately 0.07% of D-Wave Quantum worth $1,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. acquired a new position in D-Wave Quantum in the fourth quarter valued at about $91,000. Bank of America Corp DE increased its holdings in D-Wave Quantum by 4,912.4% in the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock valued at $21,404,000 after purchasing an additional 2,497,263 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in D-Wave Quantum in the fourth quarter valued at approximately $158,000. Keel Point LLC acquired a new position in D-Wave Quantum during the fourth quarter worth $96,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of D-Wave Quantum during the fourth quarter worth $224,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Price Performance

Shares of D-Wave Quantum stock traded up $0.68 on Friday, reaching $11.10. 161,356,804 shares of the company were exchanged, compared to its average volume of 36,613,724. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $11.95. The company has a market cap of $3.23 billion, a P/E ratio of -26.43 and a beta of 0.90. The stock's 50 day moving average price is $7.41 and its 200-day moving average price is $5.84.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $15.00 million during the quarter, compared to analysts' expectations of $10.50 million. On average, research analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on QBTS shares. Roth Mkm increased their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Needham & Company LLC increased their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research report on Friday. Benchmark restated a "buy" rating and issued a $8.00 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Finally, B. Riley increased their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $9.17.

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.