Bouvel Investment Partners LLC Takes $2.15 Million Position in D-Wave Quantum Inc. $QBTS

Key Points

• Bouvel Investment Partners LLC acquired 146,492 shares of D-Wave Quantum Inc. ($QBTS) worth approximately $2.15 million, increasing its stake to about 0.05% in the company by the end of Q2.
• Insider transactions included CFO John M. Markovich selling 100,000 shares for $1.8 million, which represents a 6.03% decrease in his stock ownership.
• D-Wave Quantum's stock performance shows a 52-week low of $0.87 and a high of $27.33, with current market cap at $9.20 billion.

Bouvel Investment Partners LLC purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 146,492 shares of the company's stock, valued at approximately $2,145,000. Bouvel Investment Partners LLC owned 0.05% of D-Wave Quantum as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in D-Wave Quantum by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock valued at $85,766,000 after acquiring an additional 4,166,721 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of 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 in the last quarter. UNICOM Systems Inc. lifted its holdings in shares of 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 in the last quarter. Trexquant Investment LP purchased a new stake in shares of D-Wave Quantum in the first quarter valued at about $8,064,000. Finally, Headlands Technologies LLC purchased a new stake in shares of D-Wave Quantum in the first quarter valued at about $6,883,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating on shares of D-Wave Quantum in a report on Monday, August 4th. B. Riley upped their price target on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a "buy" rating in a report on Monday. Rosenblatt Securities initiated coverage on shares of D-Wave Quantum in a report on Tuesday, July 29th. They issued a "buy" rating and a $30.00 price target on the stock. Benchmark reaffirmed a "buy" rating and set a $20.00 price target on shares of D-Wave Quantum in a research note on Monday, August 4th. Finally, Wall Street Zen cut shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, D-Wave Quantum currently has a consensus rating of "Buy" and a consensus target price of $20.27.

Insiders Place Their Bets

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $179,300.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John M. Markovich sold 50,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.30, for a total value of $815,000.00. Following the sale, the chief financial officer owned 1,599,511 shares in the company, valued at approximately $26,072,029.30. The trade was a 3.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,000 shares of company stock worth $2,937,740. 3.20% of the stock is owned by corporate insiders.

D-Wave Quantum Stock Performance

Shares of QBTS traded up $1.72 during midday trading on Tuesday, hitting $27.39. 48,463,900 shares of the stock traded hands, compared to its average volume of 64,729,090. The firm has a market capitalization of $9.37 billion, a PE ratio of -25.85 and a beta of 1.40. The business's 50 day moving average price is $17.59 and its two-hundred day moving average price is $13.67. D-Wave Quantum Inc. has a 1-year low of $0.87 and a 1-year high of $27.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share 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 during the quarter, compared to analyst estimates of $2.55 million. The firm's quarterly revenue was up 40.9% compared to the same quarter last year. Equities research analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

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.