Bouvel Investment Partners LLC Acquires Shares of 146,492 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) in the 2nd quarter, according to the company in its most recent 13F filing 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 about 0.05% of D-Wave Quantum as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new stake in D-Wave Quantum in the fourth quarter valued at approximately $26,000. Reyes Financial Architecture Inc. bought a new position in D-Wave Quantum during the second quarter worth about $29,000. Parallel Advisors LLC raised its holdings in D-Wave Quantum by 227.3% during 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 last quarter. Russell Investments Group Ltd. boosted its stake in D-Wave Quantum by 133.9% in the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company's stock valued at $42,000 after acquiring an additional 3,165 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of D-Wave Quantum by 106.1% in the first 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 last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen lowered D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Roth Capital reiterated a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Benchmark restated a "buy" rating and set a $20.00 price objective on shares of D-Wave Quantum in a research report on Monday, August 4th. Cantor Fitzgerald assumed coverage on shares of D-Wave Quantum in a report on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of "Buy" and an average price target of $19.27.

D-Wave Quantum Stock Up 11.9%

Shares of D-Wave Quantum stock traded up $2.87 during trading hours on Friday, hitting $26.89. 101,969,081 shares of the company's stock traded hands, compared to its average volume of 41,232,792. D-Wave Quantum Inc. has a twelve month low of $0.87 and a twelve month high of $27.33. The company has a market cap of $9.20 billion, a PE ratio of -25.61 and a beta of 1.40. The stock has a 50 day simple moving average of $17.40 and a 200-day simple moving average of $13.53. 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 (NYSE:QBTS - Get Free Report) last issued 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). The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm's quarterly revenue was up 40.9% compared to the same quarter last year. Equities research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the transaction, the director owned 36,295 shares in the company, valued at $650,769.35. The trade was a 18.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John M. Markovich sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $18.00, for a total value of $1,800,000.00. Following the completion of the transaction, the chief financial officer owned 1,558,753 shares of the company's stock, valued at $28,057,554. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,000 shares of company stock worth $2,937,740 in the last 90 days. 3.20% of the stock is currently owned by insiders.

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.