Flagship Harbor Advisors LLC Takes $233,000 Position in D-Wave Quantum Inc. (NYSE:QBTS)

Flagship Harbor Advisors LLC bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,700 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of QBTS. State Street Corp increased its position in D-Wave Quantum by 0.9% during the third 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 last quarter. Arkadios Wealth Advisors purchased a new stake in D-Wave Quantum in the 4th quarter worth about $162,000. Sovereign Financial Group Inc. purchased a new stake in D-Wave Quantum in the 4th quarter worth about $179,000. Traynor Capital Management Inc. bought a new stake in D-Wave Quantum in the fourth quarter worth about $219,000. Finally, Veracity Capital LLC purchased a new position in shares of D-Wave Quantum during the fourth quarter valued at approximately $228,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Insider Activity

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $4,210,000. The trade was a 89.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John M. Markovich sold 5,582 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the sale, the chief financial officer now owns 1,064,556 shares in the company, valued at $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,152,665 shares of company stock worth $92,096,075. Corporate insiders own 7.22% of the company’s stock.

D-Wave Quantum Stock Performance

NYSE QBTS opened at $5.51 on Thursday. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -13.11 and a beta of 1.16. The company’s 50-day simple moving average is $5.82 and its two-hundred day simple moving average is $2.73.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on QBTS shares. Craig Hallum raised their price target 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. B. Riley boosted their target price on shares of D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Roth Mkm raised their price target on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $6.38.

D-Wave Quantum 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.