UBS Group AG Decreases Position in D-Wave Quantum Inc. $QBTS

UBS Group AG trimmed its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 15.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,263,434 shares of the company’s stock after selling 1,826,269 shares during the quarter. UBS Group AG’s holdings in D-Wave Quantum were worth $268,389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new position in shares of D-Wave Quantum in the 3rd quarter valued at $30,000. Financial Consulate Inc. acquired a new position in D-Wave Quantum in the third quarter valued at $31,000. Valley National Advisers Inc. grew its holdings in shares of D-Wave Quantum by 222.2% during the fourth quarter. Valley National Advisers Inc. now owns 1,595 shares of the company’s stock worth $41,000 after purchasing an additional 1,100 shares during the last quarter. Kelleher Financial Advisors purchased a new position in shares of D-Wave Quantum during the third quarter worth about $40,000. Finally, Larson Financial Group LLC increased its position in shares of D-Wave Quantum by 1,754.0% during the third quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock worth $46,000 after purchasing an additional 1,754 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and issued a $43.00 target price on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Needham & Company LLC reduced their price objective on D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. TD Cowen initiated coverage on D-Wave Quantum in a report on Thursday, February 12th. They issued a “buy” rating for the company. Zacks Research cut shares of D-Wave Quantum from a “hold” rating to a “strong sell” rating in a report on Friday, March 6th. Finally, Mizuho reduced their price target on shares of D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.53.

D-Wave Quantum Stock Performance

Shares of QBTS opened at $18.09 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 42.25 and a current ratio of 42.38. The stock has a market capitalization of $6.69 billion, a P/E ratio of -16.45 and a beta of 1.78. The company’s fifty day moving average is $17.43 and its two-hundred day moving average is $23.69. D-Wave Quantum Inc. has a 1 year low of $6.52 and a 1 year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, February 26th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The firm had revenue of $2.75 million during the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The business’s revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts predict that D-Wave Quantum Inc. will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John M. Markovich sold 10,706 shares of D-Wave Quantum stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $17.63, for a total transaction of $188,746.78. Following the completion of the sale, the chief financial officer directly owned 1,451,427 shares in the company, valued at approximately $25,588,658.01. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sophie C. Ames sold 3,070 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.35, for a total value of $65,544.50. Following the completion of the sale, the vice president directly owned 643,678 shares in the company, valued at $13,742,525.30. This trade represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,776 shares of company stock worth $574,571 over the last quarter. 3.20% of the stock is owned by company insiders.

D-Wave Quantum Profile

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.