Wealth Quarterback LLC Purchases New Position in D-Wave Quantum Inc. $QBTS

Wealth Quarterback LLC acquired a new position in D-Wave Quantum Inc. (NYSE:QBTS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,939 shares of the company’s stock, valued at approximately $517,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in QBTS. Reyes Financial Architecture Inc. acquired a new stake in D-Wave Quantum during the second quarter valued at $29,000. Atlantic Union Bankshares Corp acquired a new stake in shares of D-Wave Quantum during the 2nd quarter valued at about $29,000. Parallel Advisors LLC increased its stake 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 valued at $32,000 after purchasing an additional 1,532 shares in the last quarter. Gables Capital Management Inc. acquired a new position in D-Wave Quantum in the 2nd quarter worth about $37,000. Finally, Huntington National Bank purchased a new position in D-Wave Quantum during the second quarter worth approximately $41,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insider Buying and Selling

In other D-Wave Quantum news, CFO John M. Markovich sold 200,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $22.94, for a total value of $4,588,000.00. Following the completion of the sale, the chief financial officer directly owned 1,482,874 shares of the company’s stock, valued at $34,017,129.56. This trade represents a 11.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 806,288 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the transaction, the chief executive officer directly owned 2,801,265 shares in the company, valued at approximately $80,872,520.55. The trade was a 22.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,342,087 shares of company stock worth $66,073,024. 3.20% of the stock is owned by corporate insiders.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $26.14 on Tuesday. The company has a market cap of $9.15 billion, a P/E ratio of -19.36 and a beta of 1.58. D-Wave Quantum Inc. has a twelve month low of $3.74 and a twelve month high of $46.75. The company’s 50-day moving average price is $27.17 and its 200-day moving average price is $22.81. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The company had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.03 million. The company’s revenue was up 105.6% on a year-over-year basis. On average, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QBTS has been the subject of several research analyst reports. B. Riley upped their target price 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. Jefferies Financial Group assumed coverage on shares of D-Wave Quantum in a report on Tuesday, December 16th. They set a “buy” rating and a $45.00 price objective on the stock. Mizuho started coverage on shares of D-Wave Quantum in a research note on Thursday, December 11th. They set an “outperform” rating and a $46.00 target price for the company. Rosenblatt Securities lifted their price objective on D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, Williams Trading set a $35.00 price objective on D-Wave Quantum in a research note on Monday, November 10th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.67.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.