D-Wave Quantum Inc. $QBTS Shares Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its position in D-Wave Quantum Inc. (NYSE:QBTS) by 31.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,365 shares of the company’s stock after purchasing an additional 21,332 shares during the quarter. Wolverine Asset Management LLC’s holdings in D-Wave Quantum were worth $1,294,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in QBTS. Vanguard Group Inc. boosted its position in shares of D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock valued at $85,766,000 after purchasing an additional 4,166,721 shares during the period. Penserra Capital Management LLC raised its stake in D-Wave Quantum by 80.1% during the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock valued at $38,518,000 after acquiring an additional 2,253,741 shares during the last quarter. UNICOM Systems Inc. raised its stake in D-Wave Quantum by 91.9% during the 1st quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock valued at $35,171,000 after acquiring an additional 2,216,000 shares during the last quarter. Trexquant Investment LP purchased a new stake in D-Wave Quantum during the 1st quarter valued at approximately $8,064,000. Finally, Headlands Technologies LLC purchased a new stake in D-Wave Quantum during the 1st quarter valued at approximately $6,883,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the sale, the director owned 36,295 shares in the company, valued at approximately $650,769.35. This represents a 18.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the sale, the director owned 47,778 shares in the company, valued at approximately $856,659.54. This trade represents a 17.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 207,363 shares of company stock worth $4,659,478 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Price Performance

Shares of NYSE:QBTS opened at $36.96 on Friday. The business’s fifty day moving average price is $26.61 and its two-hundred day moving average price is $18.82. The stock has a market cap of $12.64 billion, a PE ratio of -35.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. D-Wave Quantum Inc. has a one year low of $0.98 and a one year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced 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 analyst estimates of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The company’s revenue was up 40.9% on a year-over-year basis. On average, analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on QBTS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of D-Wave Quantum in a research note on Tuesday, October 14th. Rosenblatt Securities began coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They set a “buy” rating and a $30.00 price objective for the company. B. Riley upped their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of D-Wave Quantum in a research note on Monday, August 4th. Finally, Zacks Research downgraded D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.27.

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.