Jump Financial LLC Takes Position in D-Wave Quantum Inc. $QBTS

Jump Financial LLC purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 147,753 shares of the company's stock, valued at approximately $1,123,000. Jump Financial LLC owned approximately 0.05% of D-Wave Quantum as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QBTS. Fourth Dimension Wealth LLC purchased a new position in shares of D-Wave Quantum in the fourth quarter valued at $26,000. Russell Investments Group Ltd. increased its position in D-Wave Quantum by 133.9% during the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company's stock worth $42,000 after purchasing an additional 3,165 shares in the last quarter. Signaturefd LLC increased its position in D-Wave Quantum by 106.1% during the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company's stock worth $44,000 after purchasing an additional 2,971 shares in the last quarter. Amalgamated Bank boosted its stake in D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company's stock worth $48,000 after buying an additional 3,266 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in D-Wave Quantum by 231.0% in the 1st quarter. IFP Advisors Inc now owns 6,620 shares of the company's stock worth $50,000 after buying an additional 4,620 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company's stock.

Insiders Place Their Bets

In other news, Director Roger Biscay sold 106,626 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total value of $1,796,648.10. Following the completion of the sale, the director directly owned 14,260 shares in the company, valued at approximately $240,281. The trade was a 88.20% decrease in their position. 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 100,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total value of $1,800,000.00. Following the completion of the sale, the chief financial officer owned 1,558,753 shares of the company's stock, valued at $28,057,554. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 378,787 shares of company stock worth $6,389,513. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on QBTS. Needham & Company LLC reissued a "buy" rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Stifel Nicolaus assumed coverage on D-Wave Quantum in a research note on Tuesday, August 5th. They issued a "buy" rating and a $26.00 price objective on the stock. Wall Street Zen lowered D-Wave Quantum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. B. Riley lifted their price objective on D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Roth Capital reaffirmed a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $19.27.

D-Wave Quantum Price Performance

QBTS stock opened at $15.64 on Friday. 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 Inc. has a 52-week low of $0.80 and a 52-week high of $20.56. The stock's 50 day moving average is $16.62 and its two-hundred day moving average is $12.19. The company has a market capitalization of $5.35 billion, a PE ratio of -14.89 and a beta of 1.41.

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 (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 business had revenue of $3.10 million for the quarter, compared to analysts' expectations of $2.55 million. The business's revenue was up 40.9% on a year-over-year basis. Analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share 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.

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