Leonteq Securities AG Acquires 50,769 Shares of D-Wave Quantum Inc. $QBTS

Leonteq Securities AG increased its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 159.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 82,558 shares of the company’s stock after buying an additional 50,769 shares during the quarter. Leonteq Securities AG’s holdings in D-Wave Quantum were worth $1,191,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its stake in D-Wave Quantum by 370.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 96,248 shares of the company’s stock valued at $2,378,000 after acquiring an additional 75,807 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of D-Wave Quantum by 254.7% in the 4th quarter. SG Americas Securities LLC now owns 2,272,020 shares of the company’s stock worth $59,413,000 after purchasing an additional 1,631,415 shares during the period. WBI Investments LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter worth approximately $844,000. Massachusetts Financial Services Co. MA purchased a new position in D-Wave Quantum in the fourth quarter valued at approximately $1,114,000. Finally, World Investment Advisors lifted its stake in D-Wave Quantum by 195.7% in the fourth quarter. World Investment Advisors now owns 41,691 shares of the company’s stock valued at $1,090,000 after purchasing an additional 27,592 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO John M. Markovich sold 328,752 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $27.70, for a total transaction of $9,106,430.40. Following the sale, the chief financial officer owned 1,442,820 shares of the company’s stock, valued at approximately $39,966,114. This represents a 18.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan E. Baratz sold 687,627 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $26.13, for a total value of $17,967,693.51. Following the completion of the transaction, the chief executive officer owned 3,299,771 shares of the company’s stock, valued at approximately $86,223,016.23. This represents a 17.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,363,842 shares of company stock valued at $35,802,656 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on QBTS shares. Stifel Nicolaus set a $35.00 price objective on D-Wave Quantum in a report on Tuesday, June 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of D-Wave Quantum in a research report on Wednesday, May 13th. Canaccord Genuity Group cut their price target on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Jefferies Financial Group reiterated a “buy” rating on shares of D-Wave Quantum in a research note on Tuesday, May 12th. Finally, Roth Mkm lifted their price objective on D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, D-Wave Quantum presently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

D-Wave Quantum Stock Down 0.0%

QBTS opened at $22.52 on Friday. D-Wave Quantum Inc. has a 12 month low of $12.75 and a 12 month high of $46.75. The company has a market cap of $8.33 billion, a PE ratio of -19.93 and a beta of 2.11. The company has a current ratio of 21.41, a quick ratio of 21.31 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $23.66 and a 200 day moving average of $22.13.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $2.86 million for the quarter, compared to analysts’ expectations of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The business’s revenue for the quarter was down 80.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. On average, sell-side analysts expect that D-Wave Quantum Inc. will post -0.43 EPS for the current 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.