Wolverine Asset Management LLC Boosts Stake in D-Wave Quantum Inc. $QBTS

Wolverine Asset Management LLC raised its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 31.8% during the second quarter, according to its most recent disclosure 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QBTS. Vanguard Group Inc. raised its position in D-Wave Quantum by 58.5% in the first 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 position in D-Wave Quantum by 80.1% in the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock valued at $38,518,000 after purchasing an additional 2,253,741 shares during the period. UNICOM Systems Inc. raised its position in D-Wave Quantum by 91.9% in the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock valued at $35,171,000 after purchasing an additional 2,216,000 shares during the period. Trexquant Investment LP purchased a new stake in D-Wave Quantum in the first quarter valued at $8,064,000. Finally, Headlands Technologies LLC purchased a new stake in D-Wave Quantum in the first quarter valued at $6,883,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rohit Ghai sold 10,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the transaction, the director directly owned 47,778 shares of the company’s stock, valued at approximately $856,659.54. This represents a 17.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John D. Dilullo sold 8,000 shares of the company’s 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 transaction, the director directly owned 36,295 shares of the company’s stock, valued at approximately $650,769.35. This represents a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 207,363 shares of company stock valued at $4,659,478. 3.20% of the stock is owned by insiders.

D-Wave Quantum Trading Up 2.4%

QBTS opened at $36.96 on Friday. D-Wave Quantum Inc. has a 12 month low of $0.98 and a 12 month high of $46.75. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of -35.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86. The business has a fifty day moving average price of $26.61 and a 200 day moving average price of $18.82.

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

Analysts Set New Price Targets

QBTS has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Wall Street Zen cut D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Piper Sandler lifted their price objective on D-Wave Quantum from $13.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Rosenblatt Securities initiated coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of D-Wave Quantum in a research note on Tuesday, October 14th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Moderate Buy” and an average 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.