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

Penserra Capital Management LLC grew its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 23.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,485,777 shares of the company’s stock after purchasing an additional 839,942 shares during the period. Penserra Capital Management LLC owned approximately 2.23% of D-Wave Quantum worth $4,409,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of QBTS. Baader Bank Aktiengesellschaft bought a new stake in D-Wave Quantum during the 2nd quarter valued at $28,000. SG Americas Securities LLC bought a new stake in shares of D-Wave Quantum during the 3rd quarter valued at $42,000. Thoroughbred Financial Services LLC purchased a new stake in D-Wave Quantum during the 2nd quarter worth about $45,000. Bogart Wealth LLC bought a new position in D-Wave Quantum in the 3rd quarter worth about $49,000. Finally, Instrumental Wealth LLC purchased a new position in D-Wave Quantum during the 1st quarter valued at about $60,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Trading Up 48.7 %

Shares of NYSE:QBTS opened at $2.93 on Monday. The firm has a fifty day moving average of $1.19 and a 200 day moving average of $1.13. D-Wave Quantum Inc. has a 52-week low of $0.68 and a 52-week high of $3.00.

Wall Street Analyst Weigh In

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