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

Total Wealth Planning & Management Inc. reduced its position in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 26.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,958 shares of the company’s stock after selling 4,392 shares during the quarter. Total Wealth Planning & Management Inc.’s holdings in D-Wave Quantum were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in QBTS. Reyes Financial Architecture Inc. purchased a new position in D-Wave Quantum during the 2nd quarter valued at $29,000. Parallel Advisors LLC increased its position in D-Wave Quantum by 227.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company’s stock valued at $32,000 after purchasing an additional 1,532 shares during the period. Russell Investments Group Ltd. increased its position in D-Wave Quantum by 133.9% during the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after purchasing an additional 3,165 shares during the period. Signaturefd LLC increased its position in D-Wave Quantum by 106.1% during the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after purchasing an additional 2,971 shares during the period. Finally, Amalgamated Bank increased its position in D-Wave Quantum by 107.8% during the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock valued at $48,000 after purchasing an additional 3,266 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.

D-Wave Quantum Stock Down 5.8%

NYSE:QBTS opened at $33.04 on Friday. The company has a market capitalization of $11.30 billion, a PE ratio of -31.47 and a beta of 1.49. The firm’s 50-day moving average price is $20.91 and its 200-day moving average price is $15.68. D-Wave Quantum Inc. has a 1-year low of $0.88 and a 1-year high of $39.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 42.99 and a quick ratio of 42.86.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly 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 firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.55 million. D-Wave Quantum had a negative return on equity of 118.87% and a negative net margin of 1,263.92%.The company’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, equities analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QBTS shares. Cantor Fitzgerald started coverage on shares of D-Wave Quantum in a research report on Wednesday, July 2nd. They set an “overweight” rating and a $20.00 price objective on the stock. Roth Capital reissued a “buy” rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. 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 target price on the stock. Finally, Zacks Research downgraded shares of D-Wave Quantum from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, D-Wave Quantum presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.27.

Insider Buying and Selling

In related news, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $17.93, for a total value of $143,440.00. Following the transaction, the director owned 36,295 shares in the company, valued at $650,769.35. The trade was a 18.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Markovich sold 100,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $18.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the chief financial officer owned 1,558,753 shares in the company, valued at approximately $28,057,554. The trade was a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,000 shares of company stock worth $2,937,740 in the last quarter. Corporate 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.