Wealthfront Advisers LLC Acquires Shares of 54,679 D-Wave Quantum Inc. $QBTS

Wealthfront Advisers LLC acquired a new stake in D-Wave Quantum Inc. (NASDAQ:QBTS) in the 2nd quarter, HoldingsChannel reports. The fund acquired 54,679 shares of the company’s stock, valued at approximately $1,312,000.

A number of other hedge funds have also recently modified their holdings of the stock. World Investment Advisors increased its holdings in shares of D-Wave Quantum by 195.7% during the 4th quarter. World Investment Advisors now owns 41,691 shares of the company’s stock valued at $1,090,000 after purchasing an additional 27,592 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in D-Wave Quantum by 319.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 98,747 shares of the company’s stock worth $1,353,000 after buying an additional 75,198 shares in the last quarter. Clear Street Group Inc. boosted its holdings in D-Wave Quantum by 40.4% during the fourth quarter. Clear Street Group Inc. now owns 4,281,254 shares of the company’s stock worth $111,955,000 after buying an additional 1,232,106 shares in the last quarter. Cibc World Market Inc. grew its position in D-Wave Quantum by 295.0% during the fourth quarter. Cibc World Market Inc. now owns 54,760 shares of the company’s stock valued at $1,432,000 after buying an additional 40,897 shares during the period. Finally, M&T Bank Corp purchased a new position in D-Wave Quantum in the fourth quarter valued at $1,185,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

NASDAQ:QBTS opened at $20.39 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 20.42 and a current ratio of 20.55. The stock has a market capitalization of $7.54 billion, a PE ratio of -28.72 and a beta of 2.15. D-Wave Quantum Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $46.75. The company has a fifty day moving average of $20.62 and a two-hundred day moving average of $20.24.

D-Wave Quantum (NASDAQ:QBTS) last announced its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $3.08 million during the quarter, compared to analyst estimates of $4.03 million. D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The firm’s revenue for the quarter was down 0.6 compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. As a group, research analysts forecast that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 687,627 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the completion of the sale, the chief executive officer directly owned 3,299,771 shares in the company, valued at approximately $86,223,016.23. The trade was a 17.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sophie C. Ames sold 3,070 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $16.95, for a total value of $52,036.50. Following the transaction, the vice president directly owned 589,009 shares of the company’s stock, valued at $9,983,702.55. The trade was a 0.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,012,065 shares of company stock worth $26,245,703 in the last three months. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QBTS. Weiss Ratings downgraded shares of D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. BMO Capital Markets assumed coverage on D-Wave Quantum in a research report on Thursday. They set an “outperform” rating and a $35.00 target price on the stock. Roth Capital restated a “buy” rating and issued a $30.00 price target on shares of D-Wave Quantum in a research note on Thursday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price target on shares of D-Wave Quantum in a report on Wednesday, May 13th. Finally, Benchmark initiated coverage on D-Wave Quantum in a research report on Monday, July 27th. They set a “buy” rating and a $30.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.27.

Key Headlines Impacting D-Wave Quantum

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: BMO initiated coverage with an Outperform rating and a $35 price target, implying roughly 85%–86% upside from recent levels. The firm highlighted D-Wave’s commercial revenue potential, providing a significant catalyst for the stock. D-Wave Quantum Stock Climbs as BMO Turns Bullish
• Positive Sentiment: NTT DOCOMO deployed a second production application powered by D-Wave to improve mobile-network planning and efficiency. The deployment expands the relationship beyond pilot projects and offers evidence that D-Wave’s technology is being used in commercial telecom operations. D-Wave Lands Second Production Telecom Application
• Positive Sentiment: D-Wave’s order and contracted-revenue indicators remain strong. First-half bookings reportedly surged 1,120% year over year to $35.5 million, while remaining performance obligations rose 668% to $40.7 million. Nearly $23 million of contracted revenue could be recognized within 12 months, and commercial customers generated 67.7% of first-half revenue. D-Wave: Demand Is Outrunning Revenue
• Neutral Sentiment: Analysts and market commentary are increasingly focused on whether D-Wave can convert customer interest, bookings and production applications into sustained revenue and eventual profitability. Some quantum stocks continue to attract attention for their growth prospects despite a tougher market. Quantum Stocks Face Reality Check
• Negative Sentiment: Valuation remains a concern. After approximately a 15-fold three-year gain, D-Wave screens as expensive on valuation measures, raising the risk that substantial future progress is already reflected in the share price. D-Wave Quantum Stock Looks Expensive
• Negative Sentiment: Quantum-computing stocks have recently faced broad sector selling, while Zacks Research downgraded D-Wave from “Strong Buy” to “Hold.” These factors could limit gains even as company-specific news improves sentiment. Quantum Stock Selloff

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.