D-Wave Quantum Inc. $QBTS Shares Sold by Ameriflex Group Inc.

Ameriflex Group Inc. trimmed its position in D-Wave Quantum Inc. (NYSE:QBTS) by 8.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,130 shares of the company’s stock after selling 2,220 shares during the quarter. Ameriflex Group Inc.’s holdings in D-Wave Quantum were worth $325,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Capital Advisory Group Advisory Services LLC boosted its stake in D-Wave Quantum by 3.0% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 22,167 shares of the company’s stock valued at $325,000 after acquiring an additional 646 shares in the last quarter. bLong Financial LLC grew its holdings in shares of D-Wave Quantum by 5.2% during the first quarter. bLong Financial LLC now owns 24,092 shares of the company’s stock valued at $183,000 after buying an additional 1,200 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of D-Wave Quantum by 12.0% during the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock valued at $92,000 after buying an additional 1,300 shares during the last quarter. Signaturefd LLC grew its holdings in shares of D-Wave Quantum by 24.2% during the second quarter. Signaturefd LLC now owns 7,168 shares of the company’s stock valued at $105,000 after buying an additional 1,397 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after buying an additional 1,532 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QBTS. Canaccord Genuity Group began coverage on shares of D-Wave Quantum in a report on Wednesday, July 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of D-Wave Quantum in a report on Monday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of D-Wave Quantum in a report on Saturday, September 27th. Stifel Nicolaus began coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.27.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the sale, the director owned 36,295 shares of the company’s stock, valued at approximately $650,769.35. This represents a 18.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the sale, the director directly owned 47,778 shares of the company’s stock, valued at approximately $856,659.54. This trade represents a 17.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,000 shares of company stock valued at $2,937,740. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Up 12.0%

QBTS opened at $32.72 on Friday. D-Wave Quantum Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $33.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The company has a fifty day moving average of $19.18 and a two-hundred day moving average of $14.79. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of -31.16 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.D-Wave Quantum’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

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.