Geneos Wealth Management Inc. Makes New Investment in D-Wave Quantum Inc. $QBTS

Key Points

• Geneos Wealth Management Inc. has acquired 19,335 shares of D-Wave Quantum Inc. (NYSE: QBTS) valued at approximately $147,000, marking a new investment during the 1st quarter.
• Institutional ownership in D-Wave Quantum is significant, with 42.47% of the stock held by hedge funds and institutional investors, indicating strong market interest.
• D-Wave Quantum's revenues increased by 40.9% year-over-year, although the company reported earnings per share of ($0.08), missing analyst estimates.

Geneos Wealth Management Inc. purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,335 shares of the company's stock, valued at approximately $147,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vontobel Holding Ltd. grew its position in shares of D-Wave Quantum by 786.8% in the 1st quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company's stock valued at $842,000 after purchasing an additional 98,350 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in D-Wave Quantum during the 1st quarter worth approximately $167,000. Swiss National Bank bought a new stake in shares of D-Wave Quantum during the 1st quarter worth approximately $3,532,000. Verity Asset Management Inc. bought a new position in D-Wave Quantum during the 1st quarter worth $251,000. Finally, Deutsche Bank AG grew its holdings in shares of D-Wave Quantum by 35.0% during the 4th quarter. Deutsche Bank AG now owns 73,906 shares of the company's stock worth $621,000 after purchasing an additional 19,157 shares in the last quarter. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS traded up $2.87 during trading on Friday, reaching $26.89. 101,969,081 shares of the stock traded hands, compared to its average volume of 37,707,480. D-Wave Quantum Inc. has a 52-week low of $0.87 and a 52-week high of $27.33. 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 company has a 50-day moving average of $17.40 and a 200-day moving average of $13.41. The stock has a market capitalization of $9.20 billion, a P/E ratio of -25.61 and a beta of 1.39.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released 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). The business had revenue of $3.10 million during the quarter, compared to analysts' expectations 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%. The firm's quarterly revenue was up 40.9% on a year-over-year basis. Analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on QBTS shares. B. Riley raised their price objective on D-Wave Quantum from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Benchmark reiterated a "buy" rating and issued a $20.00 target price on shares of D-Wave Quantum in a report on Monday, August 4th. Wall Street Zen cut D-Wave Quantum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Williams Trading set a $20.00 price objective on D-Wave Quantum in a research note on Wednesday, June 18th. Finally, Cantor Fitzgerald assumed coverage on D-Wave Quantum in a research note on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $19.27.

Insiders Place Their Bets

In related news, CFO John M. Markovich sold 50,000 shares of D-Wave Quantum stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $16.30, for a total value of $815,000.00. Following the completion of the sale, the chief financial officer owned 1,599,511 shares of the company's stock, valued at $26,072,029.30. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the completion of the sale, the director directly owned 36,295 shares of the company's stock, valued at $650,769.35. The trade was a 18.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,000 shares of company stock valued at $2,937,740. Corporate insiders own 3.20% of the company's stock.

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.