Florida Financial Advisors LLC Buys 29,007 Shares of D-Wave Quantum Inc. $QBTS

Florida Financial Advisors LLC increased its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 87.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 61,989 shares of the company’s stock after acquiring an additional 29,007 shares during the quarter. Florida Financial Advisors LLC’s holdings in D-Wave Quantum were worth $1,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its position in D-Wave Quantum by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after buying an additional 482 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in D-Wave Quantum by 5.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock valued at $245,000 after acquiring an additional 500 shares during the last quarter. bLong Financial LLC increased its position in D-Wave Quantum by 2.3% in the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock worth $361,000 after purchasing an additional 551 shares during the period. Center for Financial Planning Inc. raised its holdings in D-Wave Quantum by 23.6% during the 2nd quarter. Center for Financial Planning Inc. now owns 3,645 shares of the company’s stock worth $53,000 after purchasing an additional 695 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in D-Wave Quantum by 2.1% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 47,740 shares of the company’s stock valued at $1,180,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Stock Up 4.9%

QBTS stock opened at $19.74 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. The stock has a market capitalization of $7.30 billion, a P/E ratio of -14.62 and a beta of 1.56. D-Wave Quantum Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $46.75. The business has a 50-day moving average of $25.69 and a 200-day moving average of $24.78.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $27.36, for a total value of $218,880.00. Following the completion of the sale, the director owned 27,803 shares in the company, valued at $760,690.08. This trade represents a 22.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alan E. Baratz sold 35,013 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total transaction of $982,464.78. Following the transaction, the chief executive officer owned 2,598,150 shares in the company, valued at $72,904,089. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,274,466 shares of company stock valued at $36,146,806 in the last ninety days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of D-Wave Quantum in a research note on Thursday, January 29th. Cantor Fitzgerald raised their price target on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Canaccord Genuity Group set a $43.00 price objective on D-Wave Quantum in a report on Thursday, January 29th. Jefferies Financial Group began coverage on D-Wave Quantum in a report on Tuesday, December 16th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.21.

D-Wave Quantum Company Profile

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.