SG Americas Securities LLC Invests $42,000 in D-Wave Quantum Inc. (NYSE:QBTS)

SG Americas Securities LLC bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 42,749 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Delta Investment Management LLC acquired a new stake in shares of D-Wave Quantum during the first quarter worth about $36,000. Vanguard Group Inc. raised its position in D-Wave Quantum by 17.9% in the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock valued at $2,183,000 after purchasing an additional 162,688 shares in the last quarter. Carroll Investors Inc increased its stake in shares of D-Wave Quantum by 44.7% during the first quarter. Carroll Investors Inc now owns 30,485 shares of the company’s stock worth $62,000 after buying an additional 9,415 shares during the period. Virtu Financial LLC lifted its stake in 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. Finally, Instrumental Wealth LLC acquired a new position in D-Wave Quantum during the 1st quarter worth approximately $60,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Down 5.4 %

D-Wave Quantum stock opened at $1.14 on Wednesday. The firm’s 50-day simple moving average is $1.00 and its 200 day simple moving average is $1.13. 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 $228.62 million, a PE ratio of -2.64 and a beta of 0.98.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Westpark Capital reiterated a “buy” rating and issued a $3.00 price objective on shares of D-Wave Quantum in a report on Friday, August 9th. B. Riley began coverage on shares of D-Wave Quantum in a research report on Thursday, July 25th. They issued a “buy” rating and a $3.00 target price on the stock. Benchmark reduced their price target on shares of 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. Needham & Company LLC dropped their price objective on D-Wave Quantum from $2.50 to $2.25 and set a “buy” rating on the stock in a report on Friday, August 9th. 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Buy” and an average target price of $2.54.

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.