D-Wave Quantum Inc. $QBTS Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lowered its holdings in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 35.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,740 shares of the company’s stock after selling 25,808 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in D-Wave Quantum were worth $684,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QBTS. Reyes Financial Architecture Inc. purchased a new position in D-Wave Quantum during the second quarter worth approximately $29,000. Parallel Advisors LLC lifted its position in shares of D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after acquiring an additional 1,532 shares in the last quarter. Gables Capital Management Inc. purchased a new position in shares of D-Wave Quantum in the second quarter valued at approximately $37,000. Russell Investments Group Ltd. lifted its position in shares of D-Wave Quantum by 133.9% in the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after acquiring an additional 3,165 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of D-Wave Quantum by 106.1% in the first quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after acquiring an additional 2,971 shares in the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. B. Riley raised their target price on D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of D-Wave Quantum in a research report on Tuesday, October 14th. Rosenblatt Securities assumed coverage on D-Wave Quantum in a research report on Tuesday, July 29th. They issued a “buy” rating and a $30.00 target price on the stock. Wall Street Zen downgraded D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Zacks Research cut D-Wave Quantum from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.27.

Insiders Place Their Bets

In other D-Wave Quantum news, CFO John M. Markovich sold 7,994 shares of D-Wave Quantum stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $43.74, for a total transaction of $349,657.56. Following the completion of the sale, the chief financial officer directly owned 1,580,934 shares of the company’s stock, valued at $69,150,053.16. The trade was a 0.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the sale, the director owned 36,295 shares in the company, valued at $650,769.35. This trade represents a 18.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 207,363 shares of company stock valued at $4,659,478 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Price Performance

QBTS stock opened at $36.96 on Friday. D-Wave Quantum Inc. has a 52-week low of $0.98 and a 52-week high of $46.75. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $26.61 and a two-hundred day moving average of $18.73. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of -35.20 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $3.10 million during 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 firm’s revenue was up 40.9% compared to the same quarter last year. As a group, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

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.