IFP Advisors Inc Buys 8,194 Shares of D-Wave Quantum Inc. $QBTS

Key Points

• IFP Advisors Inc increased its stake in D-Wave Quantum Inc. by 123.8%, acquiring an additional 8,194 shares in the second quarter, bringing their total holdings to 14,814 shares.
• D-Wave Quantum reported a quarterly revenue of $3.10 million, exceeding analysts' expectations of $2.55 million, despite a reported earnings loss of ($0.08) per share.
• Several institutional investors significantly raised their positions in D-Wave Quantum, indicating increased interest, with institutional ownership now at 42.47% of the company's stock.

IFP Advisors Inc grew its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 123.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,814 shares of the company's stock after buying an additional 8,194 shares during the period. IFP Advisors Inc's holdings in D-Wave Quantum were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reyes Financial Architecture Inc. bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $29,000. Parallel Advisors LLC raised its position 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 valued at $32,000 after buying an additional 1,532 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of D-Wave Quantum by 133.9% during the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company's stock valued at $42,000 after buying an additional 3,165 shares during the last quarter. Signaturefd LLC raised its position in shares of D-Wave Quantum by 106.1% during the first quarter. Signaturefd LLC now owns 5,771 shares of the company's stock valued at $44,000 after buying an additional 2,971 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of D-Wave Quantum by 107.8% during the first quarter. Amalgamated Bank now owns 6,296 shares of the company's stock valued at $48,000 after buying an additional 3,266 shares during the last quarter. Institutional investors own 42.47% of the company's stock.

D-Wave Quantum Stock Down 5.5%

Shares of QBTS opened at $38.22 on Friday. The firm has a market capitalization of $13.07 billion, a P/E ratio of -36.40 and a beta of 1.49. D-Wave Quantum Inc. has a 12-month low of $0.98 and a 12-month high of $46.75. The company has a current ratio of 42.99, a quick ratio of 42.86 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $23.32 and a 200-day moving average price of $16.84.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued 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). The company had revenue of $3.10 million for the quarter, compared to analysts' expectations of $2.55 million. D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. D-Wave Quantum's quarterly revenue was up 40.9% compared to the same quarter last year. Equities research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QBTS has been the topic of several research reports. Needham & Company LLC restated a "buy" rating on shares of D-Wave Quantum in a research report on Monday, August 4th. Stifel Nicolaus initiated coverage on shares of D-Wave Quantum in a research report on Tuesday, August 5th. They issued a "buy" rating and a $26.00 price target on the stock. Wall Street Zen cut shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. B. Riley boosted their price target on shares of D-Wave Quantum from $22.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, Cantor Fitzgerald began coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $20.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, D-Wave Quantum currently has an average rating of "Moderate Buy" and a consensus target price of $20.27.

Insider Activity at D-Wave Quantum

In other news, Director Rohit Ghai sold 10,000 shares of the business's stock in a transaction 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 approximately $856,659.54. The trade was a 17.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan E. Baratz sold 31,369 shares of the business's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $43.74, for a total transaction of $1,372,080.06. Following the sale, the chief executive officer directly owned 2,801,265 shares of the company's stock, valued at $122,527,331.10. This represents a 1.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,363 shares of company stock valued at $4,659,478 over the last ninety days. Company insiders own 3.20% of the company's stock.

D-Wave Quantum 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.

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