Wolverine Asset Management LLC Boosts Holdings in D-Wave Quantum Inc. (NYSE:QBTS)

Wolverine Asset Management LLC increased its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 1,252.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,251 shares of the company's stock after buying an additional 57,647 shares during the period. Wolverine Asset Management LLC's holdings in D-Wave Quantum were worth $523,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of QBTS. SG Americas Securities LLC acquired a new position in shares of D-Wave Quantum during the third quarter worth $42,000. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum during the fourth quarter valued at about $84,000. Spire Wealth Management purchased a new position in shares of D-Wave Quantum in the fourth quarter worth $90,000. Vontobel Holding Ltd. acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at $105,000. Finally, Truist Financial Corp purchased a new position in D-Wave Quantum in the 4th quarter worth $108,000. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Price Performance

Shares of NYSE:QBTS traded down $0.56 on Thursday, reaching $5.59. The company's stock had a trading volume of 44,365,200 shares, compared to its average volume of 83,774,633. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.41. The stock's 50-day moving average is $6.69 and its two-hundred day moving average is $3.48. The stock has a market capitalization of $1.50 billion, a P/E ratio of -13.30 and a beta of 1.10.

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Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on QBTS. Craig Hallum lifted their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Roth Mkm raised their target price on D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Needham & Company LLC reissued a "buy" rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. B. Riley upped their target price on shares of D-Wave Quantum from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Benchmark reiterated a "buy" rating and issued a $8.00 target price on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $6.71.

Insiders Place Their Bets

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the transaction, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $6.68, for a total transaction of $6,680,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,152,665 shares of company stock worth $92,096,075. 7.22% of the stock is owned by 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.