Penserra Capital Management LLC Purchases 839,942 Shares of D-Wave Quantum Inc. (NYSE:QBTS)

Penserra Capital Management LLC lifted its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,485,777 shares of the company’s stock after purchasing an additional 839,942 shares during the quarter. Penserra Capital Management LLC’s holdings in D-Wave Quantum were worth $4,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in D-Wave Quantum during the third quarter valued at $49,000. SG Americas Securities LLC purchased a new position in D-Wave Quantum during the 3rd quarter valued at about $42,000. Squarepoint Ops LLC purchased a new position in D-Wave Quantum during the 2nd quarter valued at about $163,000. Marshall Wace LLP bought a new stake in D-Wave Quantum during the second quarter worth about $265,000. Finally, XTX Topco Ltd purchased a new stake in D-Wave Quantum in the second quarter worth about $163,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $2.93 on Monday. D-Wave Quantum Inc. has a 12 month low of $0.68 and a 12 month high of $3.00. The stock has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $1.13.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on QBTS. Westpark Capital reiterated a “buy” rating and set a $3.00 target price on shares of D-Wave Quantum in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Roth Mkm cut their target price on D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Benchmark lowered their price target on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum presently has a consensus rating of “Buy” and an average price target of $2.63.

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.