92,700 Shares in D-Wave Quantum Inc. $QBTS Acquired by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB opened a new position in D-Wave Quantum, buying 92,700 shares valued at about $2.42 million in the fourth quarter.
• D-Wave reported a smaller-than-expected quarterly loss of ($0.05) per share, but revenue came in below estimates at $2.86 million and was down sharply from a year earlier.
• Despite mixed fundamentals and some insider selling, Wall Street remains broadly optimistic: analysts give QBTS a Moderate Buy consensus with an average price target of $34.67, while recent government-support headlines have boosted sentiment around the stock.

Handelsbanken Fonder AB purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 92,700 shares of the company's stock, valued at approximately $2,424,000.

Other large investors have also added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new stake in D-Wave Quantum during the third quarter worth approximately $30,000. Valley National Advisers Inc. grew its position in D-Wave Quantum by 222.2% during the fourth quarter. Valley National Advisers Inc. now owns 1,595 shares of the company's stock worth $41,000 after buying an additional 1,100 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in D-Wave Quantum during the third quarter worth approximately $40,000. Tucker Asset Management LLC acquired a new stake in D-Wave Quantum during the fourth quarter worth approximately $47,000. Finally, Larson Financial Group LLC grew its position in D-Wave Quantum by 1,754.0% during the third quarter. Larson Financial Group LLC now owns 1,854 shares of the company's stock worth $46,000 after buying an additional 1,754 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Trading Down 0.9%

Shares of QBTS stock opened at $29.13 on Monday. The stock's fifty day moving average price is $18.40 and its two-hundred day moving average price is $22.13. The company has a market cap of $10.78 billion, a PE ratio of -25.78 and a beta of 1.95. 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 debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The firm had revenue of $2.86 million for the quarter, compared to the consensus estimate of $4.19 million. During the same quarter last year, the business posted ($0.02) EPS. The company's revenue was down 80.9% compared to the same quarter last year. Equities analysts predict that D-Wave Quantum Inc. will post -0.44 EPS for the current fiscal year.

Insider Transactions at D-Wave Quantum

In related news, Director Rohit Ghai sold 10,000 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $17.62, for a total transaction of $176,200.00. Following the sale, the director owned 27,778 shares of the company's stock, valued at $489,448.36. This trade represents a 26.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John D. Dilullo sold 8,000 shares of the firm'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 sale, the director directly owned 19,803 shares in the company, valued at approximately $356,652.03. This trade represents a 28.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 54,801 shares of company stock worth $1,011,586. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on QBTS shares. Rosenblatt Securities reissued a "buy" rating and set a $43.00 price target on shares of D-Wave Quantum in a research report on Wednesday, May 13th. Wall Street Zen downgraded D-Wave Quantum from a "hold" rating to a "sell" rating in a report on Saturday, February 7th. Weiss Ratings downgraded D-Wave Quantum from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 29th. Northland Securities assumed coverage on D-Wave Quantum in a report on Monday, April 20th. They issued a "market perform" rating and a $22.00 target price on the stock. Finally, Zacks Research raised D-Wave Quantum from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.67.

D-Wave Quantum News Summary

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

• Positive Sentiment: The biggest driver for QBTS is the reported U.S. government support for quantum computing, including a proposed $100 million CHIPS Act funding package for D-Wave, which investors view as a major validation of the company’s technology and growth prospects. Article Title
• Positive Sentiment: Broader headlines that the Trump administration is committing $2 billion to quantum firms have lifted the entire group, including D-Wave, as traders bet federal money could accelerate commercialization and industry adoption. Article Title
• Positive Sentiment: Quantum stocks continued to rally across the sector, with D-Wave included in a broader move that added billions in market value, reinforcing momentum-driven buying in QBTS. Article Title
• Neutral Sentiment: Trading activity has also been elevated, with unusually heavy call-option buying suggesting speculation remains strong, but this is more a sign of interest than a clear fundamental catalyst.
• Negative Sentiment: A vice president sold shares under a pre-arranged 10b5-1 plan, which may slightly weigh on sentiment even though the transaction does not necessarily signal concern about the business. Article Title

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.