Total Clarity Wealth Management Inc. Acquires New Holdings in D-Wave Quantum Inc. $QBTS

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in D-Wave Quantum by 58.5% in the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock worth $85,766,000 after purchasing an additional 4,166,721 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of D-Wave Quantum by 80.1% during the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock worth $38,518,000 after buying an additional 2,253,741 shares during the period. UNICOM Systems Inc. lifted its stake in shares of D-Wave Quantum by 91.9% during the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock worth $35,171,000 after buying an additional 2,216,000 shares during the period. Northern Trust Corp lifted its stake in shares of D-Wave Quantum by 63.4% during the first quarter. Northern Trust Corp now owns 1,597,981 shares of the company’s stock worth $12,145,000 after buying an additional 619,894 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of D-Wave Quantum during the first quarter worth $8,064,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at D-Wave Quantum

In other news, CFO John M. Markovich sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.30, for a total transaction of $815,000.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rohit Ghai sold 10,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the sale, the director directly owned 47,778 shares of the company’s stock, valued at approximately $856,659.54. This represents a 17.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,000 shares of company stock valued at $2,937,740 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

QBTS has been the subject of several research reports. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Saturday, September 27th. Williams Trading set a $20.00 target price on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Benchmark restated a “buy” rating and set a $20.00 target price on shares of D-Wave Quantum in a research report on Monday, August 4th. Finally, Zacks Research downgraded shares of D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, D-Wave Quantum presently has an average rating of “Moderate Buy” and a consensus price target of $20.27.

D-Wave Quantum Stock Down 5.8%

QBTS 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 fifty day moving average of $20.91 and a two-hundred day moving average of $15.78. 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 data 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 firm had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.55 million. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

About D-Wave Quantum

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.