SLT Holdings LLC Raises Position in D-Wave Quantum Inc. $QBTS

Key Points

• SLT Holdings LLC increased its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 31.0% during the second quarter, owning 233,000 shares valued at approximately $3,411,000.
• Other institutional investors, including Vanguard Group, Penserra Capital Management, and UNICOM Systems, made significant increases to their holdings in D-Wave Quantum, indicating strong confidence in the company.
• D-Wave Quantum reported a 40.9% year-over-year revenue increase to $3.10 million for the quarter, but missed earnings estimates by $0.03 per share.

SLT Holdings LLC grew its position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 31.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 233,000 shares of the company's stock after acquiring an additional 55,150 shares during the quarter. D-Wave Quantum accounts for 2.6% of SLT Holdings LLC's portfolio, making the stock its 10th biggest holding. SLT Holdings LLC owned approximately 0.08% of D-Wave Quantum worth $3,411,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in D-Wave Quantum by 58.5% in the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock worth $85,766,000 after purchasing an additional 4,166,721 shares during the last quarter. Penserra Capital Management LLC increased its stake in D-Wave Quantum by 80.1% during the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after acquiring an additional 2,253,741 shares during the last quarter. UNICOM Systems Inc. increased its stake in D-Wave Quantum by 91.9% during the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock worth $35,171,000 after acquiring an additional 2,216,000 shares during the last quarter. Trexquant Investment LP bought a new stake in D-Wave Quantum during the first quarter worth approximately $8,064,000. Finally, Headlands Technologies LLC bought a new stake in D-Wave Quantum during the first quarter worth approximately $6,883,000. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Price Performance

Shares of QBTS stock opened at $33.04 on Friday. D-Wave Quantum Inc. has a one year low of $0.88 and a one year high of $39.55. The company has a market capitalization of $11.30 billion, a P/E ratio of -31.47 and a beta of 1.49. The company's 50-day simple moving average is $20.91 and its two-hundred day simple moving average is $15.68. 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 (NYSE:QBTS - Get Free Report) last posted its quarterly 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). D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum's revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on QBTS shares. Weiss Ratings reissued a "sell (d-)" rating on shares of D-Wave Quantum in a research report on Saturday, September 27th. Needham & Company LLC reissued a "buy" rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Canaccord Genuity Group began coverage on shares of D-Wave Quantum in a research report on Wednesday, July 23rd. They set a "buy" rating and a $20.00 price objective on the stock. B. Riley boosted their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Finally, Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Eleven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.27.

Insiders Place Their Bets

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the transaction, the director directly owned 47,778 shares in the company, valued at $856,659.54. This represents a 17.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John M. Markovich sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total transaction of $1,800,000.00. Following the transaction, the chief financial officer owned 1,558,753 shares in the company, valued at approximately $28,057,554. This represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,000 shares of company stock worth $2,937,740 in the last three months. Corporate insiders own 3.20% of the company's stock.

About D-Wave Quantum

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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