Squarepoint Ops LLC Makes New $163,000 Investment in D-Wave Quantum Inc. (NYSE:QBTS)

Squarepoint Ops LLC bought a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 143,390 shares of the company’s stock, valued at approximately $163,000. Squarepoint Ops LLC owned 0.08% of D-Wave Quantum as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 worth $2,183,000 after purchasing an additional 162,688 shares during the period. Virtu Financial LLC boosted its position 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 valued at $254,000 after acquiring an additional 85,351 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $251,000. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $45,000. Finally, XTX Topco Ltd bought a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $163,000. Institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

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

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $0.97 on Monday. The stock has a fifty day moving average price of $0.95 and a two-hundred day moving average price of $1.20. D-Wave Quantum Inc. has a 52-week low of $0.57 and a 52-week high of $2.44. The firm has a market capitalization of $195.39 million, a P/E ratio of -2.26 and a beta of 0.98.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $2.18 million for the quarter, compared to analyst estimates of $2.88 million. On average, equities research analysts predict that D-Wave Quantum Inc. will post -0.4 EPS for the current fiscal year.

D-Wave Quantum Company 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.