Entropy Technologies LP Makes New Investment in D-Wave Quantum Inc. $QBTS

Key Points

• Entropy Technologies LP invested approximately $157,000 in D-Wave Quantum Inc. by acquiring 20,700 shares during the first quarter of the year.
• D-Wave Quantum reported a negative EPS of ($0.08) for the recent quarter, missing consensus estimates, while revenue increased by 40.9% year-over-year to $3.10 million.
• Research analysts have mixed ratings on D-Wave Quantum, with one firm downgrading the stock to a "sell" while others maintain "buy" ratings and targets as high as $30.00.

Entropy Technologies LP purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,700 shares of the company's stock, valued at approximately $157,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of D-Wave Quantum by 123.2% during the first quarter. Invesco Ltd. now owns 95,121 shares of the company's stock worth $723,000 after purchasing an additional 52,502 shares during the period. Wolverine Asset Management LLC boosted its stake in D-Wave Quantum by 7.7% during the 1st quarter. Wolverine Asset Management LLC now owns 67,033 shares of the company's stock valued at $509,000 after purchasing an additional 4,782 shares in the last quarter. Savvy Advisors Inc. boosted its position in shares of D-Wave Quantum by 14.7% during the 1st quarter. Savvy Advisors Inc. now owns 38,965 shares of the company's stock valued at $296,000 after purchasing an additional 5,008 shares in the last quarter. Swiss National Bank acquired a new position in shares of D-Wave Quantum in the first quarter worth about $3,532,000. Finally, Deutsche Bank AG boosted its holdings in shares of D-Wave Quantum by 103.6% in the first quarter. Deutsche Bank AG now owns 150,509 shares of the company's stock worth $1,144,000 after buying an additional 76,603 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Roger Biscay sold 106,626 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the completion of the sale, the director directly owned 14,260 shares of the company's stock, valued at approximately $240,281. This represents a 88.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirstjen Nielsen sold 13,000 shares of D-Wave Quantum stock in a transaction that occurred on 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 transaction, the director directly owned 119,673 shares in the company, 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 sold a total of 1,736,796 shares of company stock worth $29,672,091 over the last quarter. Insiders own 3.20% of the company's stock.

D-Wave Quantum Trading Down 5.0%

NYSE:QBTS traded down $0.8230 during mid-day trading on Tuesday, hitting $15.7370. The company had a trading volume of 16,314,321 shares, compared to its average volume of 67,925,977. D-Wave Quantum Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $20.56. The business's fifty day moving average is $16.72 and its two-hundred day moving average is $11.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The firm has a market cap of $5.38 billion, a P/E ratio of -14.99 and a beta of 1.41.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its 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). The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. D-Wave Quantum's revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

QBTS has been the subject of a number of research analyst reports. Williams Trading set a $20.00 price target on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Stifel Nicolaus began coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They issued a "buy" rating and a $26.00 price target on the stock. Canaccord Genuity Group began coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $20.00 price target on the stock. Piper Sandler boosted their target price on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Cantor Fitzgerald assumed 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 target on the stock. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $19.27.

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.