Cetera Investment Advisers Has $1.65 Million Stake in D-Wave Quantum Inc. $QBTS

Cetera Investment Advisers reduced its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,500 shares of the company’s stock after selling 15,340 shares during the period. Cetera Investment Advisers’ holdings in D-Wave Quantum were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of QBTS. Reyes Financial Architecture Inc. bought a new position in D-Wave Quantum during the second quarter worth about $29,000. Atlantic Union Bankshares Corp bought a new position in shares of D-Wave Quantum during the second quarter worth approximately $29,000. Parallel Advisors LLC increased its holdings in shares of D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock worth $32,000 after purchasing an additional 1,532 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $37,000. Finally, Huntington National Bank bought a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 168,102 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $23.17, for a total value of $3,894,923.34. Following the sale, the chief executive officer owned 2,633,163 shares in the company, valued at approximately $61,010,386.71. The trade was a 6.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction that occurred 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 owned 47,778 shares in the company, valued at $856,659.54. This trade represents a 17.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,379,813 shares of company stock worth $36,891,986. Company insiders own 3.20% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $22.82 on Monday. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of -16.90 and a beta of 1.58. The company has a current ratio of 54.68, a quick ratio of 54.49 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $29.79 and its 200-day moving average price is $21.35. D-Wave Quantum Inc. has a 12 month low of $2.50 and a 12 month high of $46.75.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (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 business had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.03 million. The company’s revenue for the quarter was up 105.6% on a year-over-year basis. Equities research analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on QBTS. Stifel Nicolaus assumed coverage on D-Wave Quantum in a research note on Tuesday, August 5th. They set a “buy” rating and a $26.00 price objective on the stock. Piper Sandler boosted their price objective on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Roth Capital set a $40.00 target price on D-Wave Quantum in a report on Thursday, November 6th. Needham & Company LLC reissued a “buy” rating on shares of D-Wave Quantum in a report on Monday, August 4th. Finally, Rosenblatt Securities raised their price objective on D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

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.