Wealthfront Advisers LLC Takes Position in D-Wave Quantum Inc. $QBTS

Wealthfront Advisers LLC purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,969 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds have also bought and sold shares of QBTS. Vontobel Holding Ltd. lifted its stake in D-Wave Quantum by 786.8% in the first quarter. Vontobel Holding Ltd. now owns 110,850 shares of the company’s stock valued at $842,000 after buying an additional 98,350 shares during the period. IFP Advisors Inc increased its position in D-Wave Quantum by 123.8% in the 2nd quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock valued at $217,000 after buying an additional 8,194 shares in the last quarter. Farther Finance Advisors LLC increased its position in D-Wave Quantum by 491.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 16,321 shares of the company’s stock valued at $239,000 after buying an additional 13,561 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of D-Wave Quantum in the 2nd quarter worth $217,000. Finally, Bouvel Investment Partners LLC bought a new position in shares of D-Wave Quantum in the 2nd quarter worth $2,145,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Up 2.4%

Shares of NYSE:QBTS opened at $36.96 on Monday. The business has a fifty day moving average price of $26.61 and a two-hundred day moving average price of $18.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86. The company has a market capitalization of $12.64 billion, a PE ratio of -35.20 and a beta of 1.53. D-Wave Quantum Inc. has a 1 year low of $0.98 and a 1 year high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. Analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John D. Dilullo sold 8,000 shares of the stock in a transaction 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 transaction, the director directly owned 36,295 shares of the company’s stock, valued at approximately $650,769.35. This trade represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 207,363 shares of company stock valued at $4,659,478 in the last three months. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a report on Monday, August 4th. Zacks Research lowered D-Wave Quantum from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings restated a “sell (e+)” rating on shares of D-Wave Quantum in a report on Tuesday, October 14th. B. Riley increased their price target on D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, Roth Capital reiterated a “buy” rating on shares of D-Wave Quantum in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, D-Wave Quantum presently has an average rating of “Moderate Buy” and a consensus target price of $20.27.

D-Wave Quantum 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.