WINTON GROUP Ltd Acquires New Stake in D-Wave Quantum Inc. (NYSE:QBTS)

WINTON GROUP Ltd bought a new position in D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 37,375 shares of the company’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also recently modified their holdings of QBTS. PNC Financial Services Group Inc. purchased a new position in D-Wave Quantum in the fourth quarter worth $38,000. Heritage Wealth Advisors bought a new stake in D-Wave Quantum during the fourth quarter worth about $67,000. Kingsview Wealth Management LLC purchased a new position in shares of D-Wave Quantum in the 4th quarter worth about $84,000. Spire Wealth Management bought a new position in shares of D-Wave Quantum during the 4th quarter valued at about $90,000. Finally, Prudential Financial Inc. purchased a new position in shares of D-Wave Quantum during the 4th quarter valued at about $95,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QBTS. Craig Hallum increased their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. B. Riley increased their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, March 14th. Roth Mkm boosted their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Benchmark reaffirmed a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research note on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.42.

Insiders Place Their Bets

In related news, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the transaction, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $4.07, for a total value of $29,624,260.16. Following the transaction, the insider now owns 30,000,000 shares in the company, valued at $122,100,000. This trade represents a 19.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,071,206 shares of company stock worth $46,758,181. 7.22% of the stock is currently owned by company insiders.

D-Wave Quantum Stock Down 6.0 %

NYSE:QBTS opened at $7.58 on Monday. The firm has a market capitalization of $2.21 billion, a P/E ratio of -18.04 and a beta of 1.12. The company has a fifty day moving average of $6.62 and a 200 day moving average of $4.48. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.95.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The firm had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $2.23 million. As a group, analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

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.