Wealthfront Advisers LLC Invests $1.31 Million in D-Wave Quantum Inc. $QBTS

Wealthfront Advisers LLC acquired a new position in shares of D-Wave Quantum Inc. (NASDAQ:QBTS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 54,679 shares of the company’s stock, valued at approximately $1,312,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Baird Financial Group Inc. grew its holdings in D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after purchasing an additional 1,300 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of D-Wave Quantum by 59.8% during the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock valued at $1,231,000 after purchasing an additional 60,668 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 201.0% during the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock valued at $1,526,000 after purchasing an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of D-Wave Quantum by 93.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock worth $825,000 after purchasing an additional 52,437 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of D-Wave Quantum by 125.7% in the 1st quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock worth $333,000 after purchasing an additional 24,382 shares in the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $20.39 on Friday. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of -28.72 and a beta of 2.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42. The business has a fifty day moving average of $20.62 and a 200 day moving average of $20.24. D-Wave Quantum Inc. has a 1 year low of $12.75 and a 1 year high of $46.75.

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

D-Wave Quantum News Summary

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

Insider Activity

In related news, CEO Alan E. Baratz sold 687,627 shares of D-Wave Quantum stock in a transaction dated 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 owned 3,299,771 shares of the company’s stock, valued at $86,223,016.23. The trade was a 17.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rohit Ghai sold 13,518 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $26.41, for a total value of $357,010.38. Following the completion of the sale, the director owned 23,617 shares in the company, valued at approximately $623,724.97. This represents a 36.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,012,065 shares of company stock valued at $26,245,703. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on QBTS shares. Mizuho upped their target price on D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Zacks Research downgraded D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price target on shares of D-Wave Quantum in a research note on Wednesday, May 13th. Roth Capital restated a “buy” rating and set a $30.00 price objective on shares of D-Wave Quantum in a report on Thursday, August 6th. Finally, Stifel Nicolaus set a $35.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

D-Wave Quantum 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.