Arkadios Wealth Advisors Boosts Stake in D-Wave Quantum Inc. $QBTS

Arkadios Wealth Advisors lifted its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 48.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,107 shares of the company’s stock after buying an additional 53,286 shares during the period. Arkadios Wealth Advisors’ holdings in D-Wave Quantum were worth $2,403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Reyes Financial Architecture Inc. purchased a new position in shares of D-Wave Quantum in the second quarter worth about $29,000. Parallel Advisors LLC increased its position in D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after purchasing an additional 1,532 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in D-Wave Quantum during the second quarter worth about $37,000. Russell Investments Group Ltd. increased 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 worth $42,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Signaturefd LLC increased its position in D-Wave Quantum by 106.1% during the first quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after purchasing an additional 2,971 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Price Performance

Shares of QBTS opened at $36.02 on Friday. D-Wave Quantum Inc. has a 1-year low of $0.98 and a 1-year high of $46.75. The stock has a market cap of $12.32 billion, a PE ratio of -34.30 and a beta of 1.49. The firm has a 50-day simple moving average of $26.18 and a two-hundred day simple moving average of $18.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The company’s revenue was up 40.9% compared to the same quarter last year. As a group, analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QBTS shares. Piper Sandler raised their price objective on shares of D-Wave Quantum from $13.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of D-Wave Quantum in a research report on Monday, August 4th. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Stifel Nicolaus started coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They set a “buy” rating and a $26.00 price objective for the company. Finally, Wall Street Zen cut shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.27.

Insider Buying and Selling at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 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 value of $143,440.00. Following the completion of the transaction, the director owned 36,295 shares in the company, valued at approximately $650,769.35. The trade was a 18.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan E. Baratz sold 31,369 shares of D-Wave Quantum stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $43.74, for a total transaction of $1,372,080.06. Following the completion of the transaction, the chief executive officer owned 2,801,265 shares of the company’s stock, valued at $122,527,331.10. This trade represents a 1.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 207,363 shares of company stock worth $4,659,478. 3.20% of the stock is currently owned by company insiders.

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.