Wolverine Asset Management LLC Buys 57,647 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Wolverine Asset Management LLC grew its position in D-Wave Quantum Inc. (NYSE:QBTS) by 1,252.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 62,251 shares of the company’s stock after acquiring an additional 57,647 shares during the period. Wolverine Asset Management LLC’s holdings in D-Wave Quantum were worth $523,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC grew its holdings in shares of D-Wave Quantum by 23.0% during the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after purchasing an additional 839,942 shares during the last quarter. Geode Capital Management LLC boosted its position in D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after buying an additional 645,039 shares during the period. UNICOM Systems Inc. bought a new stake in D-Wave Quantum during the 4th quarter worth approximately $20,258,000. State Street Corp increased its position in D-Wave Quantum by 0.9% in the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after acquiring an additional 17,225 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of D-Wave Quantum by 75.6% during the fourth quarter. Rhumbline Advisers now owns 133,405 shares of the company’s stock valued at $1,121,000 after acquiring an additional 57,438 shares during the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Trading Down 1.7 %

Shares of QBTS stock opened at $7.27 on Monday. The firm has a fifty day simple moving average of $6.82 and a two-hundred day simple moving average of $3.38. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.41. The firm has a market capitalization of $1.96 billion, a PE ratio of -17.30 and a beta of 1.10.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the transaction, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sector Pension Investme Public sold 643,866 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42. Following the sale, the insider now directly owns 18,730,193 shares of the company’s stock, valued at $91,216,039.91. This represents a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,152,665 shares of company stock valued at $92,096,075 over the last three months. Corporate insiders own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

QBTS has been the topic of a number of analyst reports. Roth Mkm upped their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. B. Riley upped their price target on shares of D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Craig Hallum raised their target price on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.71.

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.