Tidal Investments LLC Acquires Shares of 12,341 D-Wave Quantum Inc. (NYSE:QBTS)

Tidal Investments LLC acquired a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,341 shares of the company’s stock, valued at approximately $104,000.

Several other institutional investors also recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in shares of D-Wave Quantum during the 4th quarter worth $90,000. Kingsview Wealth Management LLC purchased a new stake in shares of D-Wave Quantum in the 4th quarter worth about $84,000. AlphaStar Capital Management LLC purchased a new stake in shares of D-Wave Quantum in the 4th quarter worth about $225,000. Stephens Inc. AR purchased a new stake in shares of D-Wave Quantum in the 4th quarter worth about $494,000. Finally, UNICOM Systems Inc. purchased a new stake in shares of D-Wave Quantum in the 4th quarter worth about $20,258,000. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $16.36 on Monday. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $19.77. The stock has a market capitalization of $4.78 billion, a P/E ratio of -38.95 and a beta of 0.90. The firm’s 50-day moving average is $9.59 and its two-hundred day moving average is $7.28.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $15.00 million for the quarter, compared to analysts’ expectations of $10.50 million. As a group, analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on QBTS shares. Roth Mkm boosted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. B. Riley boosted their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Benchmark boosted their price objective on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Finally, Needham & Company LLC boosted their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum currently has a consensus rating of “Buy” and an average target price of $10.17.

Insider Activity

In other D-Wave Quantum news, Director Roger Biscay sold 96,521 shares of D-Wave Quantum stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $17.86, for a total value of $1,723,865.06. Following the completion of the transaction, the director now owns 106,626 shares of the company’s stock, valued at $1,904,340.36. The trade was a 47.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Alan E. Baratz sold 845,813 shares of D-Wave Quantum stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the completion of the transaction, the chief executive officer now directly owns 2,866,412 shares of the company’s stock, valued at approximately $48,729,004. This represents a 22.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,358,009 shares of company stock worth $23,282,578 over the last 90 days. Company insiders own 7.22% of the company’s stock.

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.