Lauer Wealth LLC Acquires Shares of 21,000 D-Wave Quantum Inc. (NYSE:QBTS)

Lauer Wealth LLC purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,000 shares of the company's stock, valued at approximately $147,000.

A number of other institutional investors also recently bought and sold shares of QBTS. Fourth Dimension Wealth LLC purchased a new position in D-Wave Quantum in the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. acquired a new stake in shares of D-Wave Quantum during the 4th quarter worth approximately $38,000. Signaturefd LLC raised its position in D-Wave Quantum by 106.1% in the first quarter. Signaturefd LLC now owns 5,771 shares of the company's stock valued at $44,000 after purchasing an additional 2,971 shares during the period. Amalgamated Bank increased its position in shares of D-Wave Quantum by 107.8% during the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company's stock worth $48,000 after purchasing an additional 3,266 shares during the last quarter. Finally, Heritage Wealth Advisors purchased a new position in shares of D-Wave Quantum during the 4th quarter worth approximately $67,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Benchmark reissued a "buy" rating and set a $20.00 target price (up from $14.00) on shares of D-Wave Quantum in a research note on Tuesday, June 17th. B. Riley reissued a "buy" rating and set a $20.00 price target (up from $13.00) on shares of D-Wave Quantum in a report on Wednesday, June 18th. Williams Trading set a $20.00 price objective on D-Wave Quantum in a report on Wednesday, June 18th. Needham & Company LLC increased their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Roth Capital reissued a "buy" rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $14.38.

D-Wave Quantum Price Performance

NYSE:QBTS traded up $1.05 during trading hours on Monday, reaching $15.86. 27,999,959 shares of the company's stock were exchanged, compared to its average volume of 72,198,633. The business's 50-day simple moving average is $14.95 and its two-hundred day simple moving average is $9.68. The company has a quick ratio of 20.61, a current ratio of 20.73 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $4.63 billion, a P/E ratio of -26.43 and a beta of 1.40. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $19.76.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. The business had revenue of $15.00 million during the quarter, compared to analyst estimates of $10.50 million. Sell-side analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other D-Wave Quantum news, Director Kirstjen Nielsen sold 58,644 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.21, for a total value of $950,619.24. Following the sale, the director directly owned 132,673 shares in the company, valued at approximately $2,150,629.33. This trade represents a 30.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John M. Markovich sold 400,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $17.30, for a total value of $6,920,000.00. Following the completion of the sale, the chief financial officer directly owned 1,577,944 shares of the company's stock, valued at approximately $27,298,431.20. The trade was a 20.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,636,796 shares of company stock worth $27,872,091. 3.20% of the stock is currently owned by company 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.