Triton Wealth Management PLLC Purchases New Shares in D-Wave Quantum Inc. $QBTS

Triton Wealth Management PLLC purchased a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) in the second quarter, HoldingsChannel.com reports. The firm purchased 32,740 shares of the company’s stock, valued at approximately $479,000.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Needham & Company LLC reissued a “buy” rating on shares of D-Wave Quantum in a report on Monday, August 4th. Stifel Nicolaus assumed coverage on shares of D-Wave Quantum in a report on Tuesday, August 5th. They set a “buy” rating and a $26.00 price objective for the company. Williams Trading set a $20.00 price objective on shares of D-Wave Quantum in a report on Wednesday, June 18th. Finally, Rosenblatt Securities assumed coverage on shares of D-Wave Quantum in a report on Tuesday, July 29th. They set a “buy” rating and a $30.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.27.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum 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 sale, the director directly owned 36,295 shares in the company, valued at $650,769.35. This trade represents a 18.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John M. Markovich sold 50,000 shares of D-Wave Quantum stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.30, for a total transaction of $815,000.00. Following the completion of the sale, the chief financial officer owned 1,599,511 shares in the company, valued at approximately $26,072,029.30. This represents a 3.03% decrease in their ownership of the stock. 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 ninety days. 3.20% of the stock is owned by insiders.

D-Wave Quantum Trading Up 5.9%

NYSE QBTS opened at $43.02 on Wednesday. D-Wave Quantum Inc. has a one year low of $0.98 and a one year high of $45.30. The company has a 50-day simple moving average of $21.88 and a 200-day simple moving average of $16.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 42.86 and a current ratio of 42.99. The firm has a market capitalization of $14.71 billion, a PE ratio of -40.97 and a beta of 1.49.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). D-Wave Quantum had a negative net margin of 1,263.92% and a negative return on equity of 118.87%. The business had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.55 million. The firm’s revenue was up 40.9% on a year-over-year basis. On average, equities analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

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.