Capital Advisory Group Advisory Services LLC Purchases Shares of 18,031 D-Wave Quantum Inc. (NYSE:QBTS)

Capital Advisory Group Advisory Services LLC acquired a new position in D-Wave Quantum Inc. (NYSE:QBTS) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 18,031 shares of the company’s stock, valued at approximately $151,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in D-Wave Quantum in the 3rd quarter worth approximately $42,000. Bogart Wealth LLC purchased a new stake in shares of D-Wave Quantum in the 3rd quarter valued at $49,000. Kingsview Wealth Management LLC acquired a new stake in shares of D-Wave Quantum in the fourth quarter worth $84,000. Spire Wealth Management purchased a new position in shares of D-Wave Quantum during the fourth quarter worth $90,000. Finally, Vontobel Holding Ltd. acquired a new position in D-Wave Quantum during the fourth quarter valued at $105,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $7.42 on Friday. The business has a 50 day simple moving average of $6.77 and a 200-day simple moving average of $3.30. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.41.

Insider Activity at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $4.21, for a total value of $35,522,266.53. Following the transaction, the insider now directly owns 1,000,000 shares of the company’s stock, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction dated 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 sale, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,152,665 shares of company stock valued at $92,096,075. 7.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. B. Riley lifted their price target on D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Roth Mkm upped their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a report on Tuesday, January 14th. Finally, Craig Hallum increased their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum currently has an average rating of “Buy” and a consensus price target of $6.71.

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.