HUB Investment Partners LLC Invests $105,000 in D-Wave Quantum Inc. (NYSE:QBTS)

HUB Investment Partners LLC purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,500 shares of the company’s stock, valued at approximately $105,000.

Several other hedge funds and other institutional investors have also made changes to their positions in QBTS. PNC Financial Services Group Inc. acquired a new position in shares of D-Wave Quantum during the 4th quarter worth $38,000. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum during the 4th quarter worth $84,000. Spire Wealth Management acquired a new position in shares of D-Wave Quantum during the 4th quarter worth $90,000. Vontobel Holding Ltd. acquired a new position in shares of D-Wave Quantum during the 4th quarter worth $105,000. Finally, Truist Financial Corp acquired a new position in shares of D-Wave Quantum during the 4th quarter worth $108,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on QBTS shares. Craig Hallum lifted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Friday, March 14th. Roth Mkm lifted their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. B. Riley lifted their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.50 price objective on shares of D-Wave Quantum in a research report on Friday, March 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Buy” and an average target price of $8.42.

D-Wave Quantum Price Performance

QBTS opened at $8.37 on Friday. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -19.94 and a beta of 1.12. The business has a 50-day moving average of $6.31 and a two-hundred day moving average 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 posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The business had revenue of $2.31 million during the quarter, compared to the consensus estimate of $2.23 million. Equities research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Activity

In other 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 value of $29,624,260.16. Following the transaction, the insider now directly owns 30,000,000 shares of the company’s stock, valued at $122,100,000. The trade was a 19.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction dated 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 transaction, the chief financial officer now directly 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. Insiders have sold 10,071,206 shares of company stock valued at $46,758,181 in the last three months. Corporate insiders own 7.22% of the company’s stock.

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.