Wealth Quarterback LLC Acquires New Shares in D-Wave Quantum Inc. $QBTS

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

Other large investors have also modified their holdings of the company. Tripletail Wealth Management LLC bought a new position in shares of D-Wave Quantum during the third quarter valued at approximately $89,000. Oak Harvest Investment Services increased its holdings in shares of D-Wave Quantum by 175.0% in the 3rd quarter. Oak Harvest Investment Services now owns 27,500 shares of the company’s stock valued at $680,000 after acquiring an additional 17,500 shares during the period. Sowell Financial Services LLC bought a new position in shares of D-Wave Quantum in the 3rd quarter worth $414,000. Nvwm LLC purchased a new stake in shares of D-Wave Quantum during the 3rd quarter worth $52,000. Finally, HBK Sorce Advisory LLC bought a new stake in D-Wave Quantum during the third quarter valued at about $153,000. Institutional investors own 42.47% of the company’s stock.

Insider Activity

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $27.36, for a total transaction of $218,880.00. Following the completion of the sale, the director directly owned 27,803 shares in the company, valued at approximately $760,690.08. The trade was a 22.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John M. Markovich sold 100,000 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the completion of the sale, the chief financial officer owned 1,471,312 shares in the company, valued at $44,183,499.36. The trade was a 6.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,342,087 shares of company stock valued at $66,073,024. 3.20% of the stock is owned by insiders.

D-Wave Quantum Trading Up 3.3%

NYSE QBTS opened at $26.14 on Tuesday. The company has a fifty day simple moving average of $27.17 and a two-hundred day simple moving average of $22.81. The stock 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 12-month low of $3.74 and a 12-month high of $46.75. 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 announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The firm’s revenue for the quarter was up 105.6% compared to the same quarter last year. On average, analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

QBTS has been the subject of a number of recent research reports. Benchmark boosted their target price on shares of D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Zacks Research raised shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Cantor Fitzgerald raised their target price on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Wedbush initiated coverage on shares of D-Wave Quantum in a report on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

D-Wave Quantum Profile

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.