D-Wave Quantum Inc. $QBTS Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in D-Wave Quantum Inc. by 24.6%, owning 57,800 shares valued at approximately $846,000 after purchasing additional shares during the second quarter.
• D-Wave Quantum reported a 40.9% year-over-year revenue increase for the quarter, with revenue of $3.10 million, though it missed the earnings per share consensus estimate by $0.03.
• The company has been positively rated by analysts, with eleven research firms giving it a "Buy" rating, boosting the average price target to $20.27.

KLP Kapitalforvaltning AS grew its stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 24.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,800 shares of the company's stock after purchasing an additional 11,400 shares during the quarter. KLP Kapitalforvaltning AS's holdings in D-Wave Quantum were worth $846,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of QBTS. Vanguard Group Inc. grew its position in shares of D-Wave Quantum by 58.5% in the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock valued at $85,766,000 after purchasing an additional 4,166,721 shares during the period. Penserra Capital Management LLC grew its position in shares of D-Wave Quantum by 80.1% in the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock valued at $38,518,000 after purchasing an additional 2,253,741 shares during the period. UNICOM Systems Inc. grew its position in shares of D-Wave Quantum by 91.9% in the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock valued at $35,171,000 after purchasing an additional 2,216,000 shares during the period. Trexquant Investment LP acquired a new stake in shares of D-Wave Quantum in the first quarter valued at about $8,064,000. Finally, Headlands Technologies LLC acquired a new stake in shares of D-Wave Quantum in the first quarter valued at about $6,883,000. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $44.82 on Thursday. The firm has a 50 day simple moving average of $22.42 and a 200-day simple moving average of $16.40. D-Wave Quantum Inc. has a 1-year low of $0.98 and a 1-year high of $46.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of -42.68 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm had revenue of $3.10 million during the quarter, compared to analysts' expectations of $2.55 million. D-Wave Quantum's revenue for the quarter was up 40.9% on a year-over-year basis. On average, analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Activity

In other news, Director John D. Dilullo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $143,440.00. Following the transaction, the director directly owned 36,295 shares in the company, valued at approximately $650,769.35. This represents a 18.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the transaction, the director owned 47,778 shares in the company, valued at approximately $856,659.54. This represents a 17.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 207,363 shares of company stock worth $4,659,478. Corporate insiders own 3.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Rosenblatt Securities assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, July 29th. They set a "buy" rating and a $30.00 price target on the stock. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a research report on Wednesday. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They set a "buy" rating and a $26.00 price target on the stock. Finally, B. Riley boosted their price target on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, D-Wave Quantum presently has an average rating of "Moderate Buy" and an average target price of $20.27.

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.

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