GM Advisory Group LLC Trims Position in D-Wave Quantum Inc. $QBTS

GM Advisory Group LLC reduced its holdings in D-Wave Quantum Inc. (NYSE:QBTS) by 32.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,200 shares of the company’s stock after selling 4,800 shares during the period. GM Advisory Group LLC’s holdings in D-Wave Quantum were worth $149,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Rosenblatt Securities boosted their price target on D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 7th. Stifel Nicolaus started coverage on D-Wave Quantum in a research report on Tuesday, August 5th. They issued a “buy” rating and a $26.00 price objective on the stock. Benchmark raised their price objective on shares of D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a research note on Wednesday. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.67.

Insider Activity at D-Wave Quantum

In other news, CEO Alan E. Baratz sold 168,102 shares of D-Wave Quantum stock in a transaction dated Thursday, November 13th. The shares were 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 $61,010,386.71. This trade represents a 6.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John D. Dilullo sold 8,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the sale, the director directly owned 36,295 shares of the company’s stock, valued at $650,769.35. This represents a 18.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,379,813 shares of company stock worth $36,891,986 in the last quarter. 3.20% of the stock is owned by insiders.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $22.37 on Friday. 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 Inc. has a 12-month low of $2.50 and a 12-month high of $46.75. The business’s 50 day moving average is $29.87 and its two-hundred day moving average is $21.12. The company has a market capitalization of $7.83 billion, a P/E ratio of -16.57 and a beta of 1.53.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum’s revenue for the quarter was up 105.6% compared to the same quarter last year. Analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal 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.