Invesco Ltd. Acquires 52,502 Shares of D-Wave Quantum Inc. $QBTS

Invesco Ltd. grew its holdings in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 123.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,121 shares of the company's stock after purchasing an additional 52,502 shares during the quarter. Invesco Ltd.'s holdings in D-Wave Quantum were worth $723,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of D-Wave Quantum by 5.8% in the 1st quarter. Victory Capital Management Inc. now owns 31,097 shares of the company's stock valued at $236,000 after purchasing an additional 1,698 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of D-Wave Quantum by 3.4% in the 1st quarter. XTX Topco Ltd now owns 65,799 shares of the company's stock valued at $500,000 after purchasing an additional 2,159 shares in the last quarter. Blair William & Co. IL grew its position in shares of D-Wave Quantum by 9.0% in the 1st quarter. Blair William & Co. IL now owns 30,438 shares of the company's stock worth $231,000 after buying an additional 2,503 shares during the last quarter. Veracity Capital LLC grew its position in shares of D-Wave Quantum by 9.3% in the 1st quarter. Veracity Capital LLC now owns 29,725 shares of the company's stock worth $226,000 after buying an additional 2,532 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company's stock worth $44,000 after buying an additional 2,971 shares during the last quarter. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $15.25 on Thursday. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 12 month low of $0.80 and a 12 month high of $20.56. The company has a 50 day simple moving average of $16.67 and a two-hundred day simple moving average of $12.38. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of -14.52 and a beta of 1.39.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) EPS 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 business had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The business's revenue for the quarter was up 40.9% on a year-over-year basis. As a group, analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling at D-Wave Quantum

In related news, CFO John M. Markovich sold 100,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total value of $1,800,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,558,753 shares in the company, valued at $28,057,554. The trade was a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kirstjen Nielsen sold 13,000 shares of the business's stock in a transaction 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 owned 119,673 shares of the company's stock, valued at approximately $1,919,554.92. This represents a 9.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 378,787 shares of company stock worth $6,389,513. Corporate insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Rosenblatt Securities assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, July 29th. They issued a "buy" rating and a $30.00 price objective on the stock. Stifel Nicolaus assumed 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 objective on the stock. Needham & Company LLC reaffirmed a "buy" rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Finally, Piper Sandler lifted their price objective 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. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $19.27.

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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