18,768 Shares in D-Wave Quantum Inc. (NYSE:QBTS) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV acquired a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 18,768 shares of the company’s stock, valued at approximately $158,000.

A number of other hedge funds have also recently made changes to their positions in QBTS. PNC Financial Services Group Inc. purchased a new position in shares of D-Wave Quantum during the 4th quarter worth approximately $38,000. Heritage Wealth Advisors purchased a new position in D-Wave Quantum in the 4th quarter valued at approximately $67,000. Kingsview Wealth Management LLC purchased a new position in D-Wave Quantum in the 4th quarter valued at approximately $84,000. Summit Investment Advisors Inc. boosted its position in D-Wave Quantum by 20.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock valued at $87,000 after buying an additional 1,766 shares during the period. Finally, Spire Wealth Management purchased a new position in D-Wave Quantum in the 4th quarter valued at approximately $90,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Trading Up 11.6%

Shares of QBTS opened at $12.31 on Friday. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $12.66. The firm’s fifty day simple moving average is $8.00 and its 200-day simple moving average is $6.16. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -29.31 and a beta of 0.90.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to analyst estimates of $10.50 million. On average, analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Benchmark raised their price target on shares of D-Wave Quantum from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, May 12th. B. Riley raised their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC raised their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Roth Mkm raised their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $10.17.

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.