67,633 Shares in D-Wave Quantum Inc. $QBTS Purchased by RFG Advisory LLC

Key Points

• RFG Advisory LLC acquired 67,633 shares of D-Wave Quantum during the second quarter, valued at approximately $1.62 million. Institutional investors collectively own 42.47% of QBTS.
• D-Wave’s latest quarterly results missed expectations, with a $0.10 per-share loss and $3.08 million in revenue versus the $4.03 million consensus estimate. The company remains unprofitable, with analysts forecasting a full-year loss of $0.46 per share.
• Analysts maintain a generally positive view, giving the stock a consensus “Moderate Buy” rating and an average price target of $36.27, despite QBTS trading near $16.80 and recent insider stock sales.

RFG Advisory LLC acquired a new position in shares of D-Wave Quantum Inc. (NASDAQ:QBTS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 67,633 shares of the company's stock, valued at approximately $1,623,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QBTS. World Investment Advisors lifted its position in D-Wave Quantum by 195.7% in the fourth quarter. World Investment Advisors now owns 41,691 shares of the company's stock worth $1,090,000 after buying an additional 27,592 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of D-Wave Quantum by 319.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 98,747 shares of the company's stock valued at $1,353,000 after acquiring an additional 75,198 shares during the period. Clear Street Group Inc. lifted its holdings in shares of D-Wave Quantum by 40.4% in the 4th quarter. Clear Street Group Inc. now owns 4,281,254 shares of the company's stock worth $111,955,000 after acquiring an additional 1,232,106 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of D-Wave Quantum by 295.0% in the 4th quarter. Cibc World Market Inc. now owns 54,760 shares of the company's stock worth $1,432,000 after acquiring an additional 40,897 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of D-Wave Quantum by 26.9% during the 4th quarter. Intech Investment Management LLC now owns 112,742 shares of the company's stock worth $2,948,000 after purchasing an additional 23,892 shares during the period. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Stock Performance

QBTS stock opened at $16.80 on Friday. 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 50-day moving average price of $18.68 and a 200 day moving average price of $19.98. The company has a market capitalization of $6.21 billion, a P/E ratio of -23.66 and a beta of 2.15. 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 - Get Free Report) last issued 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 business had revenue of $3.08 million for the quarter, compared to the consensus estimate 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 firm's revenue was down 0.6 on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QBTS. Rosenblatt Securities reiterated a "buy" rating and set a $43.00 price target on shares of D-Wave Quantum in a report on Friday, August 7th. Benchmark started coverage on D-Wave Quantum in a research report on Monday, July 27th. They set a "buy" rating and a $30.00 target price for the company. BMO Capital Markets initiated coverage on D-Wave Quantum in a research note on Thursday, August 20th. They set an "outperform" rating and a $35.00 target price on the stock. Wall Street Zen upgraded D-Wave Quantum from a "strong sell" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus set a $35.00 price objective on D-Wave Quantum in a report on Tuesday, June 2nd. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.27.

Insider Activity

In related news, VP Sophie C. Ames sold 3,070 shares of the business's 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 completion of the transaction, the vice president owned 589,009 shares of the company's stock, valued at $9,983,702.55. The trade was a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 13,518 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $26.41, for a total value of $357,010.38. Following the sale, the director owned 23,617 shares of the company's stock, 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 ninety days, insiders have sold 217,688 shares of company stock worth $5,570,847. Corporate insiders own 1.30% of the company's stock.

Trending Headlines about D-Wave Quantum

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

• Positive Sentiment: D-Wave finalized a definitive agreement with the U.S. Department of Commerce for up to $100 million under the CHIPS and Science Act. The funding is expected to extend D-Wave’s cash runway, support domestic quantum-computing development, and provide a significant vote of confidence from Washington. D-Wave finalizes Department of Commerce agreement
• Positive Sentiment: The broader government initiative provides up to $300 million in minority equity investments across D-Wave, Rigetti, and Quantinuum. Federal participation could improve D-Wave’s financial position, raise the sector’s profile, and support future customer and commercial adoption. Uncle Sam’s Quantum Leap
• Neutral Sentiment: D-Wave issued approximately 7.1 million shares to the U.S. government as part of the funding arrangement. The capital is favorable for liquidity, but the new shares will dilute existing shareholders. D-Wave issues shares under CHIPS deal
• Neutral Sentiment: Director John DiLullo sold 1,100 shares for $19,800 under a pre-arranged Rule 10b5-1 trading plan. Because the sale was scheduled in advance and represents a relatively small transaction, it provides limited information about management’s current outlook. D-Wave director share sale
• Negative Sentiment: Several law firms announced investigations into potential securities-law violations involving D-Wave. The announcements create headline and litigation risk, although they do not establish wrongdoing. QBTS investigation alert
• Negative Sentiment: D-Wave remains unprofitable, and its latest quarterly revenue of $3.08 million missed expectations while adjusted loss per share was wider than forecast. Its very high valuation and dependence on future quantum-computing growth could continue to pressure the stock if commercial revenue does not accelerate.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops quantum computing systems, software, and services for commercial, government, and research customers. The company is best known for its quantum annealing technology, which is designed to help solve complex optimization problems involving areas such as logistics, scheduling, manufacturing, artificial intelligence, and financial modeling.

D-Wave also develops gate-model quantum computing technology and provides access to its systems through cloud-based services, including the Leap quantum application environment.

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