Baird Financial Group Inc. Takes Position in D-Wave Quantum Inc. (NYSE:QBTS)

Baird Financial Group Inc. acquired a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,835 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of D-Wave Quantum by 4,912.4% in the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock valued at $21,404,000 after purchasing an additional 2,497,263 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in D-Wave Quantum during the fourth quarter valued at about $158,000. Keel Point LLC bought a new position in D-Wave Quantum during the fourth quarter valued at about $96,000. Schonfeld Strategic Advisors LLC bought a new position in D-Wave Quantum during the fourth quarter valued at about $224,000. Finally, Northern Trust Corp grew its position in shares of D-Wave Quantum by 25.9% in the fourth quarter. Northern Trust Corp now owns 978,087 shares of the company’s stock valued at $8,216,000 after purchasing an additional 201,091 shares during the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

D-Wave Quantum Stock Performance

QBTS opened at $12.31 on Friday. The company has a fifty day moving average price of $8.00 and a two-hundred day moving average price of $6.16. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $12.66. The firm has a market capitalization of $3.59 billion, a PE ratio of -29.31 and a beta of 0.90.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current 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.