Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Sells 135,133 Shares of D-Wave Quantum Inc. $QBTS

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD lowered its position in D-Wave Quantum Inc. (NASDAQ:QBTS) by 50.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 131,672 shares of the company’s stock after selling 135,133 shares during the quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD’s holdings in D-Wave Quantum were worth $3,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of QBTS. BlackRock Inc. purchased a new position in D-Wave Quantum in the 2nd quarter worth approximately $795,206,000. UBS Group AG boosted its stake in shares of D-Wave Quantum by 541.6% during the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after purchasing an additional 10,205,427 shares during the period. California State Teachers Retirement System increased its position in shares of D-Wave Quantum by 2,336.6% in the second quarter. California State Teachers Retirement System now owns 9,922,576 shares of the company’s stock valued at $238,043,000 after acquiring an additional 9,515,341 shares during the period. Geode Capital Management LLC increased its holdings in D-Wave Quantum by 11.5% during the 4th quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company’s stock valued at $220,085,000 after purchasing an additional 866,405 shares during the period. Finally, State Street Corp raised its holdings in shares of D-Wave Quantum by 5.3% during the fourth quarter. State Street Corp now owns 7,707,085 shares of the company’s stock valued at $201,540,000 after acquiring an additional 385,809 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Trading Up 6.6%

QBTS stock opened at $17.67 on Wednesday. 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 company has a market capitalization of $6.54 billion, a PE ratio of -24.89 and a beta of 2.15. The firm’s 50-day moving average is $19.04 and its 200 day moving average is $20.03. D-Wave Quantum Inc. has a 12 month low of $12.75 and a 12 month high of $46.75.

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

Insider Activity at D-Wave Quantum

In related news, Director Rohit Ghai sold 13,518 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $26.41, for a total transaction of $357,010.38. Following the sale, the director directly owned 23,617 shares of the company’s stock, valued at approximately $623,724.97. This represents a 36.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Sophie Ames sold 3,070 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $16.95, for a total transaction of $52,036.50. Following the sale, the vice president owned 589,009 shares in the company, valued at approximately $9,983,702.55. This represents a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 262,631 shares of company stock worth $6,656,539 in the last three months. Company insiders own 1.30% of the company’s stock.

D-Wave Quantum News Roundup

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

• Positive Sentiment: D-Wave finalized the U.S. funding agreement, which could improve its liquidity, support development of next-generation quantum systems and strengthen its competitive position in the domestic quantum-computing industry. D-Wave Quantum Finalizes Definitive Agreement with U.S. Department of Commerce
• Positive Sentiment: The deal is part of a combined $300 million government investment in D-Wave, Rigetti Computing and Quantinuum, increasing investor confidence that policymakers view quantum computing as strategically important. U.S. Gets Minority Stakes in D-Wave, Rigetti, Quantinuum
• Neutral Sentiment: Analysts collectively rate D-Wave at “Moderate Buy,” although that consensus does not eliminate concerns about execution and valuation. D-Wave Receives Average Rating of Moderate Buy
• Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of D-Wave investors, adding legal-risk and sentiment concerns. The announcement does not establish wrongdoing by the company. Pomerantz Investor Alert
• Negative Sentiment: Despite strong bookings and government support, analysts continue to flag D-Wave’s losses, limited revenue conversion and lofty valuation. Those risks are significant because the company remains loss-making and its shares have already experienced substantial long-term appreciation. Rising Risks Overshadow D-Wave Quantum Booking

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QBTS. Roth Capital reaffirmed a “buy” rating and issued a $30.00 target price on shares of D-Wave Quantum in a research report on Thursday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $43.00 price target on shares of D-Wave Quantum in a research note on Friday, August 7th. Mizuho increased their price objective on shares of 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 cut D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Benchmark started coverage on shares of D-Wave Quantum in a research note on Monday, July 27th. They set a “buy” rating and a $30.00 price target on the stock. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

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.