Vontobel Holding Ltd. Purchases 98,350 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Vontobel Holding Ltd. grew its holdings in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 786.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,850 shares of the company's stock after purchasing an additional 98,350 shares during the period. Vontobel Holding Ltd.'s holdings in D-Wave Quantum were worth $842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $38,000. Amalgamated Bank raised its holdings in shares of D-Wave Quantum by 107.8% in the first quarter. Amalgamated Bank now owns 6,296 shares of the company's stock valued at $48,000 after purchasing an additional 3,266 shares during the last quarter. Heritage Wealth Advisors acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $67,000. Finally, KBC Group NV acquired a new position in D-Wave Quantum during the first quarter worth $69,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on QBTS. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a report on Friday, June 13th. Benchmark restated a "buy" rating and set a $20.00 target price (up from $14.00) on shares of D-Wave Quantum in a report on Tuesday, June 17th. Cantor Fitzgerald began coverage on shares of D-Wave Quantum in a report on Wednesday. They set an "overweight" rating and a $20.00 target price on the stock. Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a report on Wednesday, June 18th. Finally, Roth Mkm boosted their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum has a consensus rating of "Buy" and a consensus target price of $14.38.

Insider Buying and Selling

In other news, Director Rohit Ghai sold 43,517 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.80, for a total value of $731,085.60. Following the completion of the sale, the director owned 57,778 shares of the company's stock, valued at approximately $970,670.40. The trade was a 42.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kirstjen Nielsen sold 13,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.04, for a total transaction of $208,520.00. Following the completion of the sale, the director directly owned 119,673 shares of the company's stock, valued at approximately $1,919,554.92. The trade was a 9.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,636,796 shares of company stock valued at $27,872,091 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

D-Wave Quantum Stock Performance

QBTS stock traded up $0.65 during midday trading on Friday, reaching $16.63. 29,876,920 shares of the company were exchanged, compared to its average volume of 48,229,820. The company has a debt-to-equity ratio of 0.15, a current ratio of 20.73 and a quick ratio of 20.61. The business has a 50-day moving average price of $14.08 and a two-hundred day moving average price of $9.38. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $19.77. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of -27.72 and a beta of 1.40.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) 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 firm had revenue of $15.00 million during the quarter, compared to analysts' expectations of $10.50 million. Equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

D-Wave Quantum 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.