Thoroughbred Financial Services LLC Invests $45,000 in D-Wave Quantum Inc. (NYSE:QBTS)

Thoroughbred Financial Services LLC bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 40,000 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Delta Investment Management LLC acquired a new position in shares of D-Wave Quantum during the 1st quarter worth approximately $36,000. Baader Bank Aktiengesellschaft acquired a new position in D-Wave Quantum during the second quarter worth $28,000. Instrumental Wealth LLC bought a new stake in D-Wave Quantum during the first quarter worth $60,000. Carroll Investors Inc lifted its stake in D-Wave Quantum by 44.7% in the first quarter. Carroll Investors Inc now owns 30,485 shares of the company’s stock valued at $62,000 after acquiring an additional 9,415 shares during the last quarter. Finally, Laidlaw Wealth Management LLC grew its position in shares of D-Wave Quantum by 143.3% in the 4th quarter. Laidlaw Wealth Management LLC now owns 35,224 shares of the company’s stock valued at $31,000 after acquiring an additional 20,744 shares during the period. Institutional investors own 42.47% of the company’s stock.

Wall Street Analyst Weigh In

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

D-Wave Quantum Stock Down 3.2 %

NYSE QBTS opened at $0.97 on Thursday. The firm has a 50-day moving average price of $0.99 and a two-hundred day moving average price of $1.32. D-Wave Quantum Inc. has a 12-month low of $0.57 and a 12-month high of $2.44. The company has a market capitalization of $194.50 million, a P/E ratio of -1.82 and a beta of 0.98.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $2.18 million for the quarter, compared to analyst estimates of $2.88 million. Equities analysts expect that D-Wave Quantum Inc. will post -0.4 EPS 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.