Ameriflex Group Inc. Purchases Shares of 24,350 D-Wave Quantum Inc. (NYSE:QBTS)

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

A number of other large investors have also added to or reduced their stakes in QBTS. Fourth Dimension Wealth LLC bought a new stake in shares of D-Wave Quantum in the fourth quarter worth approximately $26,000. PNC Financial Services Group Inc. bought a new position in shares of D-Wave Quantum in the 4th quarter worth approximately $38,000. Heritage Wealth Advisors purchased a new position in shares of D-Wave Quantum in the fourth quarter worth approximately $67,000. Kingsview Wealth Management LLC purchased a new position in shares of D-Wave Quantum in the fourth quarter worth approximately $84,000. Finally, Summit Investment Advisors Inc. grew its position in D-Wave Quantum by 20.6% during the fourth 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 during the period. Hedge funds and other institutional investors own 42.47% of the company's stock.

D-Wave Quantum Stock Down 5.1%

QBTS traded down $0.89 on Thursday, hitting $16.66. The company had a trading volume of 40,465,152 shares, compared to its average volume of 42,966,761. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $19.77. The business's fifty day simple moving average is $9.29 and its 200 day simple moving average is $7.00. The company has a market cap of $4.85 billion, a PE ratio of -39.69 and a beta of 0.90.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $15.00 million for the quarter, compared to analysts' expectations of $10.50 million. On average, analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 845,813 shares of D-Wave Quantum stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the sale, the chief executive officer now owns 2,866,412 shares of the company's stock, valued at $48,729,004. The trade was a 22.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger Biscay sold 96,521 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $17.86, for a total value of $1,723,865.06. Following the completion of the sale, the director now directly owns 106,626 shares of the company's stock, valued at $1,904,340.36. This trade represents a 47.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,358,009 shares of company stock worth $23,282,578 in the last three months. Company insiders own 7.22% of the company's stock.

About D-Wave Quantum

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.