Kingswood Wealth Advisors LLC Boosts Stock Position in D-Wave Quantum Inc. $QBTS

Kingswood Wealth Advisors LLC grew its stake in D-Wave Quantum Inc. (NYSE:QBTS) by 8.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,845 shares of the company’s stock after purchasing an additional 1,869 shares during the period. Kingswood Wealth Advisors LLC’s holdings in D-Wave Quantum were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. purchased a new position in D-Wave Quantum in the second quarter worth approximately $29,000. Parallel Advisors LLC grew its position in D-Wave Quantum by 227.3% in the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after acquiring an additional 1,532 shares during the period. Russell Investments Group Ltd. grew its position in D-Wave Quantum by 133.9% in the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after acquiring an additional 3,165 shares during the period. Signaturefd LLC grew its position in D-Wave Quantum by 106.1% in the first quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after acquiring an additional 2,971 shares during the period. Finally, Amalgamated Bank grew its position in D-Wave Quantum by 107.8% in the first quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock worth $48,000 after acquiring an additional 3,266 shares during the period. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Rosenblatt Securities assumed coverage on D-Wave Quantum in a research report on Tuesday, July 29th. They issued a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Saturday, September 27th. Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Finally, B. Riley upped their price target on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Eleven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.27.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total value of $143,440.00. Following the completion of the transaction, the director directly owned 36,295 shares in the company, valued at approximately $650,769.35. This trade represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John M. Markovich sold 100,000 shares of D-Wave Quantum stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total value of $1,800,000.00. Following the completion of the transaction, the chief financial officer owned 1,558,753 shares of the company’s stock, valued at approximately $28,057,554. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,000 shares of company stock worth $2,937,740. Company insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Down 5.8%

NYSE:QBTS opened at $33.04 on Friday. The company has a quick ratio of 42.86, a current ratio of 42.99 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $20.91 and its two-hundred day moving average is $15.68. D-Wave Quantum Inc. has a 52 week low of $0.88 and a 52 week high of $39.55. The stock has a market capitalization of $11.30 billion, a price-to-earnings ratio of -31.47 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $3.10 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 40.9% compared to the same quarter last year. Research analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current 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.