12,500 Shares in D-Wave Quantum Inc. (NYSE:QBTS) Acquired by HUB Investment Partners LLC

HUB Investment Partners LLC bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,500 shares of the company’s stock, valued at approximately $105,000.

Other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at approximately $38,000. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at approximately $84,000. Spire Wealth Management bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $90,000. Vontobel Holding Ltd. bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $105,000. Finally, Truist Financial Corp bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $108,000. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Price Performance

Shares of QBTS opened at $8.37 on Friday. The company has a market cap of $2.25 billion, a P/E ratio of -19.94 and a beta of 1.12. The stock has a fifty day moving average price of $6.31 and a 200 day moving average price of $4.20. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.95.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The firm had revenue of $2.31 million during the quarter, compared to the consensus estimate of $2.23 million. As a group, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Roth Mkm boosted their price target on D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, March 14th. Craig Hallum boosted their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a report on Friday, March 14th. B. Riley boosted their price target on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, March 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $8.50 price objective on shares of D-Wave Quantum in a research note on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.42.

Insider Transactions at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the sale, the chief executive officer now owns 2,342,208 shares in the company, valued at $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John M. Markovich sold 5,582 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $29,417.14. Following the completion of the sale, the chief financial officer now owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,071,206 shares of company stock valued at $46,758,181. 7.22% of the stock is currently owned by corporate insiders.

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.