AlphaStar Capital Management LLC Invests $225,000 in D-Wave Quantum Inc. (NYSE:QBTS)

AlphaStar Capital Management LLC bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,811 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth about $163,000. SG Americas Securities LLC acquired a new position in D-Wave Quantum during the third quarter valued at approximately $42,000. Bogart Wealth LLC bought a new position in D-Wave Quantum in the third quarter valued at approximately $49,000. Penserra Capital Management LLC increased its position in shares of D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after purchasing an additional 839,942 shares during the last quarter. Finally, State Street Corp raised its stake in shares of D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after purchasing an additional 17,225 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at D-Wave Quantum

In related news, CFO John M. Markovich sold 5,582 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the completion of the sale, the insider now owns 1,000,000 shares of the company’s stock, valued at $4,210,000. This trade represents a 89.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,152,665 shares of company stock worth $92,096,075 over the last quarter. Company insiders own 7.22% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS opened at $5.80 on Monday. The firm’s 50-day simple moving average is $6.34 and its 200 day simple moving average is $2.99. The firm has a market cap of $1.56 billion, a P/E ratio of -13.80 and a beta of 1.10. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.41.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $2.25 target price 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 $4.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a report on Tuesday, January 14th. Roth Mkm upped their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Craig Hallum raised their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Buy” and an average target price of $6.38.

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.