XTX Topco Ltd Takes $163,000 Position in D-Wave Quantum Inc. (NYSE:QBTS)

XTX Topco Ltd purchased a new position in D-Wave Quantum Inc. (NYSE:QBTS) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 142,848 shares of the company’s stock, valued at approximately $163,000.

Other large investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake in shares of D-Wave Quantum by 25.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,350,096 shares of the company’s stock valued at $1,188,000 after purchasing an additional 270,096 shares in the last quarter. Delta Investment Management LLC bought a new position in D-Wave Quantum during the 1st quarter valued at approximately $36,000. Vanguard Group Inc. raised its stake in D-Wave Quantum by 17.9% during the first quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock valued at $2,183,000 after buying an additional 162,688 shares during the last quarter. Carroll Investors Inc boosted its holdings in D-Wave Quantum by 44.7% in the first quarter. Carroll Investors Inc now owns 30,485 shares of the company’s stock worth $62,000 after acquiring an additional 9,415 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in shares of D-Wave Quantum by 217.0% in the first quarter. Virtu Financial LLC now owns 124,689 shares of the company’s stock worth $254,000 after acquiring an additional 85,351 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QBTS. B. Riley started coverage on shares of D-Wave Quantum in a research note on Thursday, July 25th. They issued a “buy” rating and a $3.00 price target on the stock. Needham & Company LLC dropped their target price on shares of D-Wave Quantum from $2.50 to $2.25 and set a “buy” rating on the stock in a research note on Friday, August 9th. Westpark Capital restated a “buy” rating and issued a $3.00 price objective on shares of D-Wave Quantum in a report on Friday, August 9th. Benchmark lowered their price objective on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Roth Mkm reduced their target price on D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $2.54.

D-Wave Quantum Trading Down 5.5 %

NYSE:QBTS opened at $0.97 on Tuesday. The company has a market cap of $196.11 million, a PE ratio of -1.84 and a beta of 0.98. The company has a 50 day simple moving average of $0.96 and a two-hundred day simple moving average of $1.27. D-Wave Quantum Inc. has a 12 month low of $0.57 and a 12 month high of $2.44.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $2.18 million during the quarter, compared to the consensus estimate of $2.88 million. Research analysts forecast that D-Wave Quantum Inc. will post -0.4 earnings per share for the current year.

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.