Capital Advisory Group Advisory Services LLC Grows Position in D-Wave Quantum Inc. $QBTS

Capital Advisory Group Advisory Services LLC grew its position in D-Wave Quantum Inc. (NYSE:QBTS) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,167 shares of the company’s stock after acquiring an additional 646 shares during the quarter. Capital Advisory Group Advisory Services LLC’s holdings in D-Wave Quantum were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in shares of D-Wave Quantum in the fourth quarter valued at $26,000. Reyes Financial Architecture Inc. purchased a new stake in D-Wave Quantum during the second quarter valued at $29,000. Parallel Advisors LLC raised its stake in D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after purchasing an additional 1,532 shares in the last quarter. Russell Investments Group Ltd. lifted its position in D-Wave Quantum by 133.9% during the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after buying an additional 2,971 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Rohit Ghai sold 10,000 shares of D-Wave Quantum stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the transaction, the director directly owned 47,778 shares of the company’s stock, valued at $856,659.54. This trade represents a 17.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the completion of the transaction, the director directly owned 36,295 shares of the company’s stock, valued at $650,769.35. This trade represents a 18.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,000 shares of company stock worth $2,937,740. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on QBTS shares. B. Riley upped their target price on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of D-Wave Quantum in a research note on Monday, August 4th. Stifel Nicolaus assumed coverage on D-Wave Quantum in a research report on Tuesday, August 5th. They set a “buy” rating and a $26.00 price objective on the stock. Williams Trading set a $20.00 target price on D-Wave Quantum in a report on Wednesday, June 18th. Finally, Canaccord Genuity Group initiated coverage on D-Wave Quantum in a research report on Wednesday, July 23rd. They set a “buy” rating and a $20.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, D-Wave Quantum presently has an average rating of “Buy” and a consensus price target of $19.27.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $22.49 on Thursday. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $17.00 and its 200-day moving average price is $13.13. The firm has a market cap of $7.69 billion, a P/E ratio of -21.42 and a beta of 1.39. D-Wave Quantum Inc. has a 12 month low of $0.87 and a 12 month high of $22.85.

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

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.