Total Wealth Planning & Management Inc. Sells 4,392 Shares of D-Wave Quantum Inc. $QBTS

Total Wealth Planning & Management Inc. lowered its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 26.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,958 shares of the company’s stock after selling 4,392 shares during the period. Total Wealth Planning & Management Inc.’s holdings in D-Wave Quantum were worth $175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Reyes Financial Architecture Inc. bought a new position in shares of D-Wave Quantum in the 2nd quarter worth approximately $29,000. Parallel Advisors LLC lifted its stake in shares of D-Wave Quantum by 227.3% in the 2nd 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. Russell Investments Group Ltd. lifted its stake in shares of D-Wave Quantum by 133.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after purchasing an additional 3,165 shares during the period. Signaturefd LLC lifted its stake in shares of D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after purchasing an additional 2,971 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock worth $48,000 after purchasing an additional 3,266 shares during the period. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Trading Down 5.8%

D-Wave Quantum stock opened at $33.04 on Friday. The firm has a 50 day moving average of $20.91 and a 200 day moving average of $15.68. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of -31.47 and a beta of 1.49. D-Wave Quantum Inc. has a 12-month low of $0.88 and a 12-month high of $39.55. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, Director Rohit Ghai sold 10,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $17.93, for a total transaction of $179,300.00. Following the completion of the sale, the director directly owned 47,778 shares of the company’s stock, valued at $856,659.54. This trade represents a 17.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John D. Dilullo sold 8,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were 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 approximately $650,769.35. This trade represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,000 shares of company stock valued at $2,937,740 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Roth Capital reiterated a “buy” rating on shares of D-Wave Quantum in a research note on Friday, June 13th. Needham & Company LLC reiterated a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of D-Wave Quantum in a report on Saturday, September 27th. Eleven investment 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 has an average rating of “Moderate Buy” and an average target price of $20.27.

D-Wave Quantum Company 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.