50,000 Shares in D-Wave Quantum Inc. (NYSE:QBTS) Purchased by Bogart Wealth LLC

Bogart Wealth LLC bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in D-Wave Quantum by 17.9% during the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock valued at $2,183,000 after acquiring an additional 162,688 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of D-Wave Quantum by 217.0% in the first quarter. Virtu Financial LLC now owns 124,689 shares of the company’s stock valued at $254,000 after purchasing an additional 85,351 shares during the last quarter. Squarepoint Ops LLC purchased a new position in D-Wave Quantum during the second quarter worth approximately $163,000. Bank of New York Mellon Corp acquired a new position in D-Wave Quantum during the second quarter worth $251,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in D-Wave Quantum in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $1.13 on Friday. The company has a market capitalization of $227.62 million, a PE ratio of -2.60 and a beta of 0.98. D-Wave Quantum Inc. has a fifty-two week low of $0.57 and a fifty-two week high of $2.44. The firm has a 50 day moving average price of $0.98 and a 200 day moving average price of $1.15.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $2.18 million during the quarter, compared to analysts’ expectations of $2.88 million. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

QBTS has been the topic of several recent research reports. B. Riley began coverage on shares of D-Wave Quantum in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 price target on the stock. Needham & Company LLC dropped their price target on shares of D-Wave Quantum from $2.50 to $2.25 and set a “buy” rating for the company in a research note on Friday, August 9th. Roth Mkm cut their price target on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Westpark Capital reiterated a “buy” rating and issued a $3.00 price objective on shares of D-Wave Quantum in a report on Friday, August 9th. Finally, Benchmark lowered their price objective on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $2.54.

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.