10,000 Shares in D-Wave Quantum Inc. $QBTS Acquired by Masso Torrence Wealth Management Inc.

Key Points

• Masso Torrence Wealth Management Inc. has acquired a new stake in D-Wave Quantum Inc. by purchasing 10,000 shares valued at approximately $146,000.
• Multiple institutional investors, including Deutsche Bank AG and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have recently increased their stakes in D-Wave Quantum during the fourth quarter.
• D-Wave Quantum's stock has an average rating of "Buy" with a consensus target price of $19.27, according to analysts, despite the company having reported a quarterly loss.

Masso Torrence Wealth Management Inc. bought a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the company's stock, valued at approximately $146,000.

Several other large investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in shares of D-Wave Quantum during the fourth quarter worth about $26,000. Reyes Financial Architecture Inc. bought a new stake in shares of D-Wave Quantum in the second quarter valued at $29,000. Parallel Advisors LLC raised its stake in shares of D-Wave Quantum by 227.3% in 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 period. Russell Investments Group Ltd. raised its stake in shares of D-Wave Quantum by 133.9% in 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 period. Finally, Signaturefd LLC raised its stake in shares of D-Wave Quantum by 106.1% in 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 period. 42.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Canaccord Genuity Group assumed coverage on D-Wave Quantum in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $20.00 target price on the stock. Rosenblatt Securities assumed coverage on D-Wave Quantum in a research report on Tuesday, July 29th. They issued a "buy" rating and a $30.00 price target for the company. Williams Trading set a $20.00 price target on D-Wave Quantum in a research report on Wednesday, June 18th. Wall Street Zen cut D-Wave Quantum from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Piper Sandler upped their price objective on D-Wave Quantum from $13.00 to $22.00 and gave the stock 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, D-Wave Quantum currently has a consensus rating of "Buy" and an average price target of $20.27.

D-Wave Quantum Stock Performance

D-Wave Quantum stock traded down $1.24 during trading on Monday, reaching $25.65. The company had a trading volume of 69,605,451 shares, compared to its average volume of 41,232,792. 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 market capitalization of $8.77 billion, a price-to-earnings ratio of -24.42 and a beta of 1.40. D-Wave Quantum Inc. has a 52 week low of $0.87 and a 52 week high of $27.33. The firm's 50-day simple moving average is $17.59 and its 200 day simple moving average is $13.67.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted 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). The business 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%. The business's quarterly revenue was up 40.9% on a year-over-year basis. Sell-side analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at D-Wave Quantum

In other news, CFO John M. Markovich sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.30, for a total value of $815,000.00. Following the sale, the chief financial officer directly owned 1,599,511 shares in the company, valued at $26,072,029.30. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $17.93, for a total transaction of $143,440.00. Following the transaction, the director directly owned 36,295 shares in the company, valued at approximately $650,769.35. This represents a 18.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,000 shares of company stock valued at $2,937,740. 3.20% of the stock is currently owned by company insiders.

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.