2,000 Shares in D-Wave Quantum Inc. $QBTS Acquired by Reyes Financial Architecture Inc.

Reyes Financial Architecture Inc. purchased a new position in D-Wave Quantum Inc. (NYSE:QBTS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,000 shares of the company’s stock, valued at approximately $29,000.

A number of other large investors also recently added to or reduced their stakes in the business. Strategic Advocates LLC lifted its holdings in D-Wave Quantum by 13.8% in the 2nd quarter. Strategic Advocates LLC now owns 31,665 shares of the company’s stock worth $464,000 after purchasing an additional 3,840 shares in the last quarter. Parallel Advisors LLC lifted its holdings in D-Wave Quantum by 227.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after purchasing an additional 1,532 shares in the last quarter. Modus Advisors LLC increased its stake in D-Wave Quantum by 15.2% in the 2nd quarter. Modus Advisors LLC now owns 20,038 shares of the company’s stock worth $293,000 after acquiring an additional 2,638 shares during the last quarter. Voya Investment Management LLC increased its stake in D-Wave Quantum by 69.3% in the 1st quarter. Voya Investment Management LLC now owns 48,924 shares of the company’s stock worth $372,000 after acquiring an additional 20,022 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in D-Wave Quantum by 81.8% in the 1st quarter. Rhumbline Advisers now owns 242,515 shares of the company’s stock worth $1,843,000 after acquiring an additional 109,110 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QBTS. Rosenblatt Securities began coverage on D-Wave Quantum in a research note on Tuesday, July 29th. They issued a “buy” rating and a $30.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of D-Wave Quantum in a research note on Monday, August 4th. Cantor Fitzgerald began coverage on D-Wave Quantum in a research note on Wednesday, July 2nd. They issued an “overweight” rating and a $20.00 price objective on the stock. Stifel Nicolaus began coverage on D-Wave Quantum in a research note on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Williams Trading set a $20.00 price objective on D-Wave Quantum in a research note on Wednesday, June 18th. Eleven analysts have rated the stock with a Buy rating, According to MarketBeat, D-Wave Quantum has an average rating of “Buy” and a consensus target price of $19.27.

D-Wave Quantum Stock Performance

NYSE QBTS opened at $18.96 on Wednesday. The company has a market cap of $6.48 billion, a P/E ratio of -18.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The business’s 50 day moving average price is $16.87 and its 200-day moving average price is $13.07. D-Wave Quantum Inc. has a fifty-two week low of $0.87 and a fifty-two week high of $20.56.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. D-Wave Quantum’s quarterly revenue was up 40.9% on a year-over-year basis. Sell-side analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In other D-Wave Quantum news, CFO John M. Markovich sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $18.00, for a total value of $1,800,000.00. Following the transaction, the chief financial officer owned 1,558,753 shares of the company’s stock, valued at $28,057,554. This represents a 6.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

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.