GAMMA Investing LLC Has $80,000 Stake in D-Wave Quantum Inc. (NYSE:QBTS)

GAMMA Investing LLC raised its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 4,019.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,587 shares of the company’s stock after buying an additional 10,330 shares during the period. GAMMA Investing LLC’s holdings in D-Wave Quantum were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in D-Wave Quantum by 103.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company’s stock valued at $59,794,000 after buying an additional 3,624,407 shares during the last quarter. Geode Capital Management LLC increased its stake in D-Wave Quantum by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company’s stock valued at $24,992,000 after buying an additional 418,468 shares during the last quarter. Bank of America Corp DE increased its stake in D-Wave Quantum by 4,912.4% in the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock valued at $21,404,000 after buying an additional 2,497,263 shares during the last quarter. Northern Trust Corp increased its stake in D-Wave Quantum by 25.9% in the 4th quarter. Northern Trust Corp now owns 978,087 shares of the company’s stock valued at $8,216,000 after buying an additional 201,091 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of D-Wave Quantum by 9.8% in the 4th quarter. Nuveen Asset Management LLC now owns 481,708 shares of the company’s stock valued at $4,046,000 after acquiring an additional 43,159 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other D-Wave Quantum news, Director Roger Biscay sold 15,675 shares of D-Wave Quantum stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $16.58, for a total value of $259,891.50. Following the completion of the sale, the director now owns 203,147 shares in the company, valued at $3,368,177.26. The trade was a 7.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alan E. Baratz sold 845,813 shares of D-Wave Quantum stock in a transaction dated 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 sale, the chief executive officer now owns 2,866,412 shares of the company’s stock, valued at $48,729,004. This trade represents a 22.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,636,796 shares of company stock valued at $27,872,091. Company insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $14.97 on Wednesday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -24.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 20.61 and a current ratio of 20.73. The company has a 50-day simple moving average of $12.73 and a 200 day simple moving average of $8.87. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $19.77.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. On average, sell-side analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on QBTS shares. Benchmark reissued a “buy” rating and issued a $20.00 price objective (up previously from $14.00) on shares of D-Wave Quantum in a research report on Tuesday, June 17th. Roth Capital reissued a “buy” rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Needham & Company LLC lifted their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Finally, Roth Mkm lifted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.57.

D-Wave Quantum 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.