Ameriflex Group Inc. Sells 2,220 Shares of D-Wave Quantum Inc. $QBTS

Ameriflex Group Inc. decreased its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,130 shares of the company’s stock after selling 2,220 shares during the period. Ameriflex Group Inc.’s holdings in D-Wave Quantum were worth $325,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Reyes Financial Architecture Inc. bought a new position in shares of D-Wave Quantum in the 2nd quarter valued at about $29,000. Parallel Advisors LLC raised its position in D-Wave Quantum by 227.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after purchasing an additional 1,532 shares during the period. Russell Investments Group Ltd. raised its position in D-Wave Quantum by 133.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after purchasing an additional 3,165 shares during the period. Signaturefd LLC raised its position in D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after purchasing an additional 2,971 shares during the period. Finally, Amalgamated Bank raised its position in D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock worth $48,000 after purchasing an additional 3,266 shares during the period. Institutional investors own 42.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. B. Riley increased their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Saturday, September 27th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of D-Wave Quantum in a research report on Monday, August 4th. Finally, Roth Capital reaffirmed a “buy” rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.27.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum 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 $143,440.00. Following the transaction, the director directly owned 36,295 shares of the company’s stock, valued at $650,769.35. This trade represents a 18.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum 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 transaction, the director directly owned 47,778 shares in the company, valued at approximately $856,659.54. The trade was a 17.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,000 shares of company stock valued at $2,937,740 over the last ninety days. 3.20% of the stock is owned by company insiders.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $32.72 on Friday. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of -31.16 and a beta of 1.49. The company’s 50 day moving average is $19.18 and its 200 day moving average is $14.79. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a 52-week low of $0.87 and a 52-week high of $33.28.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $3.10 million for the quarter, compared to analysts’ expectations 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%. D-Wave Quantum’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal 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.