Osaic Holdings Inc. Acquires 137,549 Shares of D-Wave Quantum Inc. $QBTS

Osaic Holdings Inc. lifted its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 125.7% in the second quarter, Holdings Channel.com reports. The fund owned 247,004 shares of the company’s stock after purchasing an additional 137,549 shares during the period. Osaic Holdings Inc.’s holdings in D-Wave Quantum were worth $3,616,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Reyes Financial Architecture Inc. purchased a new position in D-Wave Quantum during the 2nd quarter valued at $29,000. Atlantic Union Bankshares Corp bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at about $29,000. Parallel Advisors LLC increased its position in shares of D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after buying an additional 1,532 shares during the period. Gables Capital Management Inc. bought a new position in D-Wave Quantum in the second quarter worth about $37,000. Finally, Huntington National Bank bought a new position in D-Wave Quantum in the second quarter worth about $41,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Insider Transactions at D-Wave Quantum

In other news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the sale, the director owned 37,778 shares in the company, valued at $917,249.84. This represents a 20.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Alan E. Baratz sold 806,288 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the completion of the transaction, the chief executive officer owned 2,801,265 shares of the company’s stock, valued at approximately $80,872,520.55. The trade was a 22.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,342,087 shares of company stock worth $66,073,024. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on QBTS. Wall Street Zen downgraded D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. B. Riley upped their price target on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Canaccord Genuity Group raised their price objective on D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Cantor Fitzgerald boosted their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Rosenblatt Securities increased their price target on shares of D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

D-Wave Quantum Trading Down 4.7%

D-Wave Quantum stock opened at $27.75 on Friday. D-Wave Quantum Inc. has a 12 month low of $3.74 and a 12 month high of $46.75. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $27.60 and its two-hundred day simple moving average is $22.61. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of -20.55 and a beta of 1.57.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The company had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. The company’s revenue was up 105.6% on a year-over-year basis. As a group, equities analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

About D-Wave Quantum

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.