Total Clarity Wealth Management Inc. Buys Shares of 65,701 D-Wave Quantum Inc. $QBTS

Total Clarity Wealth Management Inc. bought a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 65,701 shares of the company’s stock, valued at approximately $962,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Reyes Financial Architecture Inc. acquired a new position in shares of D-Wave Quantum in the 2nd quarter worth approximately $29,000. Parallel Advisors LLC lifted its holdings in shares of 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 acquiring an additional 1,532 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of D-Wave Quantum by 133.9% in the 1st 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 last quarter. Signaturefd LLC lifted its holdings 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 acquiring an additional 2,971 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of D-Wave Quantum by 107.8% in the 1st 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 last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Stock Down 5.8%

D-Wave Quantum stock opened at $33.04 on Monday. D-Wave Quantum Inc. has a fifty-two week low of $0.88 and a fifty-two week high of $39.55. 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 company has a market capitalization of $11.30 billion, a P/E ratio of -31.47 and a beta of 1.49. The stock has a 50-day simple moving average of $20.91 and a 200-day simple moving average of $15.78.

D-Wave Quantum (NYSE:QBTS) last posted 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). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The firm had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.55 million. D-Wave Quantum’s quarterly revenue was up 40.9% on a year-over-year basis. Equities research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QBTS has been the topic of a number of research reports. Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Needham & Company LLC reiterated a “buy” rating on shares of D-Wave Quantum in a report on Monday, August 4th. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of D-Wave Quantum in a report on Monday, August 4th. Stifel Nicolaus initiated coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They set a “buy” rating and a $26.00 target price on the stock. Finally, B. Riley increased their target price on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and an average price target of $20.27.

Insider Buying and Selling

In other news, CFO John M. Markovich sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.30, for a total value of $815,000.00. Following the completion of the transaction, the chief financial officer owned 1,599,511 shares of the company’s stock, valued at $26,072,029.30. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the business’s 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 $143,440.00. Following the completion of the transaction, the director directly owned 36,295 shares of the company’s stock, valued at approximately $650,769.35. This represents a 18.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,000 shares of company stock valued at $2,937,740. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum 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.