Inspire Investing LLC Invests $324,000 in D-Wave Quantum Inc. $QBTS

Key Points

• Inspire Investing LLC has invested $324,000 in D-Wave Quantum Inc. by acquiring 22,162 shares, marking a new position for the company in the second quarter.
• Other large investors, including Vanguard Group Inc. and Penserra Capital Management LLC, have significantly increased their stakes in D-Wave Quantum, indicating growing institutional confidence in the firm.
• D-Wave Quantum reported a quarterly revenue of $3.10 million, exceeding estimates, yet posted an earnings miss of ($0.08) EPS, highlighting ongoing challenges despite revenue growth.

Inspire Investing LLC acquired a new position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 22,162 shares of the company's stock, valued at approximately $324,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 buying an additional 4,166,721 shares in the last quarter. Penserra Capital Management LLC grew its stake 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 buying an additional 2,253,741 shares in the last quarter. UNICOM Systems Inc. grew its stake 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 buying an additional 2,216,000 shares in the last quarter. 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. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Price Performance

Shares of QBTS opened at $40.45 on Friday. The company has a market cap of $13.83 billion, a P/E ratio of -38.52 and a beta of 1.49. The stock has a fifty day moving average price of $22.89 and a 200 day moving average price of $16.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86. D-Wave Quantum Inc. has a 12 month low of $0.98 and a 12 month high of $46.75.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The company had revenue of $3.10 million during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 40.9% compared to the same quarter last year. On average, research analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on QBTS shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of D-Wave Quantum in a research note on Tuesday. B. Riley lifted 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 note on Monday, September 22nd. Zacks Research lowered shares of D-Wave Quantum from a "hold" rating to a "strong sell" rating in a research note on Monday, October 6th. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research note on Tuesday, August 5th. They issued a "buy" rating and a $26.00 price target for the company. Finally, Piper Sandler upped their target price on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.27.

Insiders Place Their Bets

In other D-Wave Quantum news, 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 transaction of $143,440.00. Following the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the sale, the director directly owned 47,778 shares in the company, valued at $856,659.54. The trade was a 17.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,363 shares of company stock worth $4,659,478 over the last 90 days. Insiders own 3.20% of the company's stock.

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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