Ameriflex Group Inc. Makes New $205,000 Investment in D-Wave Quantum Inc. (NYSE:QBTS)

Ameriflex Group Inc. purchased a new position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,350 shares of the company's stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fourth Dimension Wealth LLC bought a new position in shares of D-Wave Quantum in the fourth quarter worth $26,000. PNC Financial Services Group Inc. purchased a new position in shares of D-Wave Quantum during the 4th quarter worth $38,000. Heritage Wealth Advisors purchased a new position in shares of D-Wave Quantum during the 4th quarter worth $67,000. Kingsview Wealth Management LLC purchased a new position in shares of D-Wave Quantum during the 4th quarter valued at $84,000. Finally, Summit Investment Advisors Inc. lifted its stake in shares of D-Wave Quantum by 20.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock valued at $87,000 after buying an additional 1,766 shares in the last quarter. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Price Performance

D-Wave Quantum stock traded down $1.22 during mid-day trading on Tuesday, reaching $17.58. 113,463,146 shares of the company traded hands, compared to its average volume of 42,742,853. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $19.97. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -41.86 and a beta of 0.90. The firm's fifty day moving average is $8.92 and its two-hundred day moving average is $6.85.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. As a group, equities research analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Transactions at D-Wave Quantum

In related news, CFO John M. Markovich sold 400,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total transaction of $6,920,000.00. Following the transaction, the chief financial officer now directly owns 1,577,944 shares in the company, valued at approximately $27,298,431.20. The trade was a 20.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 845,813 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the transaction, the chief executive officer now owns 2,866,412 shares in the company, valued at $48,729,004. The trade was a 22.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,358,009 shares of company stock worth $23,282,578 over the last 90 days. 7.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

QBTS has been the topic of a number of research reports. Roth Mkm lifted their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Benchmark upped their price target on shares of D-Wave Quantum from $8.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. Needham & Company LLC upped their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, B. Riley upped their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $10.17.

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.