CV Advisors LLC Makes New Investment in D-Wave Quantum Inc. (NYSE:QBTS)

CV Advisors LLC acquired a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 14,000 shares of the company’s stock, valued at approximately $118,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after acquiring an additional 89,894 shares during the period. Silverleafe Capital Partners LLC acquired a new stake in shares of D-Wave Quantum in the 4th quarter valued at $820,000. Truist Financial Corp acquired a new stake in shares of D-Wave Quantum in the 4th quarter valued at $108,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of D-Wave Quantum in the 4th quarter valued at $488,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of D-Wave Quantum by 341.7% in the 4th quarter. Jones Financial Companies Lllp now owns 23,688 shares of the company’s stock valued at $199,000 after purchasing an additional 18,325 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

Insiders Place Their Bets

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of D-Wave Quantum stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the transaction, the insider now directly owns 30,000,000 shares of the company’s stock, valued at approximately $122,100,000. The trade was a 19.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,071,206 shares of company stock valued at $53,438,181. 7.22% of the stock is currently owned by company insiders.

D-Wave Quantum Stock Up 47.4 %

NYSE QBTS opened at $10.19 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -24.25 and a beta of 1.12. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $11.41. The business’s fifty day moving average is $6.07 and its 200 day moving average is $3.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Roth Mkm raised their target price on D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday. Benchmark reaffirmed a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $8.50 price objective on shares of D-Wave Quantum in a report on Friday. Craig Hallum raised their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, B. Riley raised their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $8.42.

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.