Amundi Has $2.48 Million Stock Holdings in D-Wave Quantum Inc. $QBTS

Key Points

• Amundi increased its D-Wave Quantum stake by 32.5% in the first quarter, purchasing 42,159 additional shares and ending with 171,955 shares valued at approximately $2.48 million. Institutional investors and hedge funds collectively own 42.47% of QBTS.
• D-Wave reported a quarterly loss of $0.05 per share, better than the $0.08 consensus estimate, but revenue of $2.86 million missed expectations and fell 80.9% year over year. The company remains deeply unprofitable, with a negative net margin of 2,957.23%.
• QBTS was trading at $19.41 after a 9.3% decline, while analysts maintained an overall “Moderate Buy” rating with an average price target of $35.73. However, insiders sold more than 1.36 million shares worth $35.8 million over the prior 90 days.

Amundi grew its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 32.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 171,955 shares of the company's stock after purchasing an additional 42,159 shares during the quarter. Amundi's holdings in D-Wave Quantum were worth $2,481,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sigma Planning Corp boosted its holdings in shares of D-Wave Quantum by 3.6% in the 4th quarter. Sigma Planning Corp now owns 16,329 shares of the company's stock valued at $431,000 after buying an additional 560 shares during the last quarter. AlphaStar Capital Management LLC increased its holdings in D-Wave Quantum by 2.2% during the fourth quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company's stock worth $708,000 after buying an additional 592 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in D-Wave Quantum by 0.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company's stock worth $3,447,000 after buying an additional 602 shares during the last quarter. Arizona State Retirement System raised its position in D-Wave Quantum by 0.7% during the fourth quarter. Arizona State Retirement System now owns 92,037 shares of the company's stock worth $2,407,000 after acquiring an additional 613 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in D-Wave Quantum by 2.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 29,297 shares of the company's stock worth $766,000 after acquiring an additional 615 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Trading Down 9.3%

QBTS stock opened at $19.41 on Friday. D-Wave Quantum Inc. has a one year low of $12.75 and a one year high of $46.75. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -17.18 and a beta of 2.15. The company has a fifty day moving average price of $21.93 and a two-hundred day moving average price of $20.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company had revenue of $2.86 million for the quarter, compared to analyst estimates of $4.19 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. The company's revenue was down 80.9% on a year-over-year basis. Equities analysts anticipate that D-Wave Quantum Inc. will post -0.42 EPS for the current year.

Key D-Wave Quantum News

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

• Positive Sentiment: First-half bookings surged approximately 1,100% to 1,120%, while D-Wave reported a $40.7 million backlog. Management said the momentum positions the company to take a leading role in the quantum-computing market. D-Wave CEO says QBTS ready to lead the quantum market after a surge in first-half bookings
• Positive Sentiment: D-Wave announced a peer-reviewed Nature study demonstrating a high-fidelity, two-qubit entangling gate, reportedly achieving about 99.9% fidelity. The advance supports its longer-term gate-model and fault-tolerant quantum-computing roadmap. D-Wave demonstrates hardware breakthrough for quantum error correction
• Positive Sentiment: Reports highlighted expanded commercial interest, including an AT&T-related development that was described as providing a significant boost to D-Wave’s opportunity pipeline. D-Wave Quantum received a boost from AT&T
• Neutral Sentiment: The company’s research progress and bookings growth improve its long-term narrative, but investors still need evidence that bookings will convert into reported revenue and sustainable profitability.
• Negative Sentiment: Second-quarter revenue was $3.08 million, well below analyst expectations of roughly $4.03 million to $4.08 million. The company also reported a $0.13-per-share loss versus the consensus estimate of a $0.08 loss. D-Wave Quantum falls after second-quarter results miss expectations
• Negative Sentiment: Despite improving from the prior-year loss, D-Wave remains deeply unprofitable, with a reported negative net margin and negative return on equity. The earnings miss raised concerns about near-term execution and revenue timing. D-Wave Quantum slides on mixed second-quarter results

Insider Transactions at D-Wave Quantum

In other news, Director John D. Dilullo sold 7,850 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.43, for a total value of $191,775.50. Following the transaction, the director owned 21,310 shares of the company's stock, valued at approximately $520,603.30. This represents a 26.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rohit Ghai sold 13,518 shares of the stock in a transaction that occurred 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 transaction, the director owned 23,617 shares in the company, valued at approximately $623,724.97. This trade represents a 36.40% 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. Over the last 90 days, insiders sold 1,363,842 shares of company stock worth $35,789,148. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on QBTS. Northland Securities started coverage on shares of D-Wave Quantum in a research note on Monday, April 20th. They issued a "market perform" rating and a $22.00 price target for the company. Mizuho boosted their price objective on shares of D-Wave Quantum from $29.00 to $35.00 and gave the stock an "outperform" rating in a research note on Monday, June 15th. Canaccord Genuity Group set a $35.00 target price on shares of D-Wave Quantum in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 target price on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.73.

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.

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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.

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