Baader Bank Aktiengesellschaft Makes New $297,000 Investment in D-Wave Quantum Inc. (NYSE:QBTS)

Key Points

• Baader Bank Aktiengesellschaft has made a new investment in D-Wave Quantum Inc., purchasing 39,082 shares valued at approximately $297,000 during the first quarter.
• Other institutional investors have also increased their stakes in D-Wave Quantum, with Vanguard Group Inc. raising its position by 103.7% in the fourth quarter.
• D-Wave Quantum reported earnings that surpassed analysts' estimates, showing a revenue of $15 million, compared to the expected $10.5 million, despite a negative return on equity of 227.95%.

Baader Bank Aktiengesellschaft acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 39,082 shares of the company's stock, valued at approximately $297,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in D-Wave Quantum by 103.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock valued at $59,794,000 after buying an additional 3,624,407 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of D-Wave Quantum by 80.1% during the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after purchasing an additional 2,253,741 shares during the last quarter. UNICOM Systems Inc. lifted its position in shares of D-Wave Quantum by 91.9% during the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock worth $35,171,000 after purchasing an additional 2,216,000 shares during the last quarter. Geode Capital Management LLC raised its stake in D-Wave Quantum by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company's stock worth $24,992,000 after acquiring an additional 418,468 shares during the period. Finally, Bank of America Corp DE raised its stake in D-Wave Quantum by 4,912.4% during the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after acquiring an additional 2,497,263 shares during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.

D-Wave Quantum Price Performance

NYSE:QBTS traded down $0.80 on Friday, reaching $16.39. The stock had a trading volume of 31,527,085 shares, compared to its average volume of 42,962,408. The company has a market capitalization of $4.79 billion, a P/E ratio of -27.32 and a beta of 1.41. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $20.56. The company has a quick ratio of 20.61, a current ratio of 20.73 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $16.70 and a 200-day moving average price of $10.70.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. The company had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. Research analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Cantor Fitzgerald began coverage on shares of D-Wave Quantum in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price objective on the stock. Roth Capital reiterated a "buy" rating on shares of D-Wave Quantum in a research report on Friday, June 13th. B. Riley lifted their price objective on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a report on Wednesday, June 18th. Finally, Needham & Company LLC boosted their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $16.70.

Insiders Place Their Bets

In related news, Director Roger Biscay sold 106,626 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.85, for a total value of $1,796,648.10. Following the transaction, the director directly owned 14,260 shares in the company, valued at $240,281. This represents a 88.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rohit Ghai sold 43,517 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.80, for a total transaction of $731,085.60. Following the completion of the transaction, the director owned 57,778 shares in the company, valued at $970,670.40. This represents a 42.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,636,796 shares of company stock valued at $27,872,091 over the last three months. 3.20% of the stock is owned by insiders.

D-Wave Quantum Company Profile

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.