Flaharty Asset Management LLC Buys Shares of 12,000 D-Wave Quantum Inc. $QBTS

Flaharty Asset Management LLC bought a new position in D-Wave Quantum Inc. (NYSE:QBTS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in D-Wave Quantum by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock worth $85,766,000 after purchasing an additional 4,166,721 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of D-Wave Quantum by 80.1% during the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock worth $38,518,000 after buying an additional 2,253,741 shares during the last quarter. UNICOM Systems Inc. grew its stake in shares of D-Wave Quantum by 91.9% during the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock worth $35,171,000 after buying an additional 2,216,000 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of D-Wave Quantum by 4,912.4% during the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock worth $21,404,000 after buying an additional 2,497,263 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of D-Wave Quantum by 63.4% in the 1st quarter. Northern Trust Corp now owns 1,597,981 shares of the company’s stock valued at $12,145,000 after acquiring an additional 619,894 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QBTS has been the topic of several recent research reports. Wall Street Zen downgraded D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. B. Riley lifted their price target on D-Wave Quantum from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of D-Wave Quantum in a research note on Monday, August 4th. Canaccord Genuity Group initiated coverage on shares of D-Wave Quantum in a report on Wednesday, July 23rd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Rosenblatt Securities assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, July 29th. They set a “buy” rating and a $30.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $19.27.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, Director Kirstjen Nielsen sold 13,000 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $16.04, for a total transaction of $208,520.00. Following the sale, the director owned 119,673 shares of the company’s stock, valued at approximately $1,919,554.92. This represents a 9.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John D. Dilullo sold 15,000 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.40, for a total value of $246,000.00. Following the completion of the transaction, the director directly owned 44,295 shares in the company, valued at $726,438. This represents a 25.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,000 shares of company stock valued at $2,587,160. 3.20% of the stock is currently owned by insiders.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $16.04 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $20.56. The company has a 50 day simple moving average of $16.76 and a two-hundred day simple moving average of $12.69. The company has a market capitalization of $5.48 billion, a PE ratio of -15.27 and a beta of 1.39.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. Research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share 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.