Atria Wealth Solutions Inc. Makes New $130,000 Investment in D-Wave Quantum Inc. $QBTS

Atria Wealth Solutions Inc. purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,106 shares of the company's stock, valued at approximately $130,000.

A number of other institutional investors and hedge funds have also made changes to their positions in QBTS. Bank of America Corp DE grew its position in D-Wave Quantum by 4,912.4% during the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after buying an additional 2,497,263 shares during the period. Penserra Capital Management LLC grew its position in D-Wave Quantum by 80.1% during the first quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after buying an additional 2,253,741 shares during the period. UNICOM Systems Inc. grew its position in D-Wave Quantum by 91.9% during the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock worth $35,171,000 after buying an additional 2,216,000 shares during the period. Foundations Investment Advisors LLC acquired a new position in D-Wave Quantum during the first quarter worth about $2,815,000. Finally, Bank of New York Mellon Corp grew its position in D-Wave Quantum by 134.0% during the first quarter. Bank of New York Mellon Corp now owns 513,834 shares of the company's stock worth $3,905,000 after buying an additional 294,214 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Trading Down 3.4%

NYSE QBTS traded down $0.5280 during mid-day trading on Wednesday, reaching $14.7920. 25,402,666 shares of the stock were exchanged, compared to its average volume of 67,766,883. D-Wave Quantum Inc. has a 1-year low of $0.80 and a 1-year high of $20.56. The business's fifty day simple moving average is $16.69 and its 200 day simple moving average is $11.70. The stock has a market capitalization of $5.06 billion, a PE ratio of -14.09 and a beta of 1.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results 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 return on equity of 118.87% and a negative net margin of 1,263.92%.The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.55 million. The business's quarterly revenue was up 40.9% compared to the same quarter last year. On average, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on QBTS. Roth Capital restated a "buy" rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Wall Street Zen lowered shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Cantor Fitzgerald initiated coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $20.00 target price on the stock. B. Riley upped their price target on shares of D-Wave Quantum from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler upped their price target on shares of D-Wave Quantum from $13.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of "Buy" and a consensus price target of $19.27.

Insider Activity

In other D-Wave Quantum news, CFO John M. Markovich sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $18.00, for a total transaction of $1,800,000.00. Following the transaction, the chief financial officer owned 1,558,753 shares of the company's stock, valued at $28,057,554. This trade represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roger Biscay sold 106,626 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the transaction, the director directly owned 14,260 shares in the company, valued at approximately $240,281. This represents a 88.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 475,308 shares of company stock valued at $8,113,378 in the last 90 days. 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.