Money Concepts Capital Corp purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 50,758 shares of the company’s stock, valued at approximately $1,327,000.
Several other hedge funds have also modified their holdings of the business. Csenge Advisory Group raised its holdings in D-Wave Quantum by 99.1% during the third quarter. Csenge Advisory Group now owns 35,886 shares of the company’s stock worth $887,000 after purchasing an additional 17,860 shares during the last quarter. Mutual Advisors LLC acquired a new position in D-Wave Quantum during the third quarter worth $1,069,000. Federated Hermes Inc. increased its position in D-Wave Quantum by 259,560.6% during the third quarter. Federated Hermes Inc. now owns 184,359 shares of the company’s stock worth $4,556,000 after buying an additional 184,288 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in D-Wave Quantum by 370.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 96,248 shares of the company’s stock worth $2,378,000 after buying an additional 75,807 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in D-Wave Quantum by 254.7% during the fourth quarter. SG Americas Securities LLC now owns 2,272,020 shares of the company’s stock worth $59,413,000 after buying an additional 1,631,415 shares in the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on QBTS shares. Mizuho dropped their price target on D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of D-Wave Quantum in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating on shares of D-Wave Quantum in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price target on shares of D-Wave Quantum in a research report on Wednesday. Finally, Benchmark reissued a “buy” rating and set a $35.00 price target on shares of D-Wave Quantum in a research report on Friday, January 23rd. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.67.
D-Wave Quantum News Summary
Here are the key news stories impacting D-Wave Quantum this week:
- Positive Sentiment: D-Wave’s bookings surged to $33.4 million, a massive year-over-year jump that suggests strong customer demand and could support future revenue growth. D-Wave Shares Rise After Massive 20x Jump in Bookings Signals Demand Spike
- Positive Sentiment: The company beat earnings expectations with a smaller-than-expected loss, which helped offset the revenue miss and kept some investors focused on execution rather than near-term profitability. QBTS Q1 Earnings Top Estimates, Revenues Miss, Stock Up
- Positive Sentiment: Several analysts stayed constructive after the report, including reaffirmed Buy/Overweight ratings and price targets well above the current level, signaling Wall Street still sees meaningful upside. Analyst rating updates
- Neutral Sentiment: Coverage and earnings-call commentary highlighted D-Wave’s long-term quantum computing opportunity, but also noted that the sector remains highly speculative and competition from peers like IonQ and Rigetti is intense.
- Negative Sentiment: Revenue came in far below expectations at $2.86 million and fell sharply from a year ago, reinforcing concerns that commercialization is still uneven and revenue can be “lumpy.” D-Wave Quantum Analysts Slash Their Forecasts After Q1 Results
- Negative Sentiment: At least one analyst trimmed its price target after the report, showing that the weak top-line results are prompting some caution despite the strong bookings narrative. Mizuho target cut
Insiders Place Their Bets
In related news, VP Sophie C. Ames sold 3,070 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $21.35, for a total value of $65,544.50. Following the completion of the transaction, the vice president directly owned 643,678 shares in the company, valued at approximately $13,742,525.30. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John D. Dilullo sold 8,000 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total value of $144,080.00. Following the completion of the transaction, the director owned 19,803 shares of the company’s stock, valued at $356,652.03. The trade was a 28.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 31,776 shares of company stock valued at $574,571. 3.20% of the stock is owned by company insiders.
D-Wave Quantum Price Performance
Shares of NYSE:QBTS opened at $21.43 on Thursday. The company has a market cap of $7.93 billion, a P/E ratio of -18.96 and a beta of 1.95. The business has a fifty day simple moving average of $17.95 and a 200-day simple moving average of $22.74. D-Wave Quantum Inc. has a 52 week low of $10.60 and a 52 week high of $46.75. The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04.
D-Wave Quantum (NYSE:QBTS – Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $2.86 million during the quarter, compared to analyst estimates of $4.19 million. D-Wave Quantum had a negative return on equity of 49.80% and a negative net margin of 2,957.23%.The business’s quarterly revenue was down 80.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) earnings per share. Equities research analysts forecast that D-Wave Quantum Inc. will post -0.44 EPS for the current year.
D-Wave Quantum Company Profile
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.
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