CreativeOne Wealth LLC Takes Position in D-Wave Quantum Inc. $QBTS

CreativeOne Wealth LLC bought a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,232 shares of the company’s stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. purchased a new position in D-Wave Quantum in the second quarter valued at approximately $29,000. Atlantic Union Bankshares Corp purchased a new position in shares of D-Wave Quantum in the 2nd quarter valued at $29,000. Parallel Advisors LLC grew its position 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 valued at $32,000 after buying an additional 1,532 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in D-Wave Quantum during the 2nd quarter worth $37,000. Finally, Huntington National Bank purchased a new stake in D-Wave Quantum in the second quarter valued at $41,000. 42.47% of the stock is owned by institutional investors and hedge funds.

D-Wave Quantum Stock Up 1.8%

D-Wave Quantum stock opened at $22.82 on Monday. The stock has a 50 day moving average of $29.79 and a two-hundred day moving average of $21.35. D-Wave Quantum Inc. has a twelve month low of $2.50 and a twelve month high of $46.75. The stock 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.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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. The business’s revenue for the quarter was up 105.6% compared to the same quarter last year. As a group, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on QBTS. B. Riley raised their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Needham & Company LLC restated a “buy” rating on shares of D-Wave Quantum in a research note on Monday, August 4th. Benchmark lifted their price target on D-Wave Quantum from $20.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Zacks Research raised D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Roth Capital set a $40.00 target price on shares of D-Wave Quantum in a research report on Thursday, November 6th. Eleven equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.67.

Insider Activity

In other news, CFO John M. Markovich sold 200,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $22.94, for a total value of $4,588,000.00. Following the completion of the sale, the chief financial officer owned 1,482,874 shares in the company, valued at approximately $34,017,129.56. This trade represents a 11.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan E. Baratz sold 806,288 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the transaction, the chief executive officer owned 2,801,265 shares in the company, valued at approximately $80,872,520.55. This trade represents a 22.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,379,813 shares of company stock worth $36,891,986 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.