Atria Wealth Solutions Inc. Makes New Investment in D-Wave Quantum Inc. $QBTS

Atria Wealth Solutions Inc. bought a new position in D-Wave Quantum Inc. (NYSE:QBTS) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,106 shares of the company’s stock, valued at approximately $130,000.

Several other large investors have also bought and sold shares of the company. Penserra Capital Management LLC raised its holdings in D-Wave Quantum by 80.1% in 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 last quarter. UNICOM Systems Inc. raised its holdings in D-Wave Quantum by 91.9% in 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 last quarter. Bank of America Corp DE raised its holdings in D-Wave Quantum by 4,912.4% in the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock worth $21,404,000 after buying an additional 2,497,263 shares during the last quarter. Northern Trust Corp raised its holdings in D-Wave Quantum by 25.9% in the fourth quarter. Northern Trust Corp now owns 978,087 shares of the company’s stock worth $8,216,000 after buying an additional 201,091 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in D-Wave Quantum by 134.0% in the first quarter. Bank of New York Mellon Corp now owns 513,834 shares of the company’s stock worth $3,905,000 after buying an additional 294,214 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on QBTS. Cantor Fitzgerald began coverage on shares of D-Wave Quantum in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $20.00 target price for the company. Rosenblatt Securities assumed coverage on shares of D-Wave Quantum in a report on Tuesday, July 29th. They set a “buy” rating and a $30.00 price objective for the company. Wall Street Zen cut shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a report on Wednesday, June 18th. Finally, Canaccord Genuity Group assumed coverage on shares of D-Wave Quantum in a report on Wednesday, July 23rd. They set a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, D-Wave Quantum has a consensus rating of “Moderate Buy” and a consensus target price of $19.27.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $16.40, for a total transaction of $246,000.00. Following the completion of the sale, the director directly owned 44,295 shares in the company, valued at approximately $726,438. The trade was a 25.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roger Biscay sold 106,626 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the sale, the director owned 14,260 shares of the company’s stock, valued at $240,281. This trade represents a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,736,796 shares of company stock valued at $29,672,091 in the last three months. Corporate insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $17.02 on Monday. The firm has a 50 day moving average of $16.75 and a 200 day moving average of $11.60. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of -16.21 and a beta of 1.41. D-Wave Quantum Inc. has a 12-month low of $0.80 and a 12-month high of $20.56.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, research analysts anticipate 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.