Money Concepts Capital Corp Takes $1.33 Million Position in D-Wave Quantum Inc. $QBTS

Key Points

• Money Concepts Capital Corp opened a new position in D-Wave Quantum during the fourth quarter, buying 50,758 shares valued at about $1.33 million.
• Institutional interest in QBTS remains strong overall, with hedge funds and other investors owning 42.47% of the company; several major firms, including Vanguard and UBS, significantly increased their stakes.
• D-Wave’s latest results were mixed: it beat EPS expectations with a smaller-than-expected loss, but revenue of $2.86 million came in well below estimates and fell sharply year over year, even as analysts mostly kept Buy/Overweight ratings and relatively high price targets.

Money Concepts Capital Corp 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 13F filing with the Securities and Exchange Commission. The firm purchased 50,758 shares of the company's stock, valued at approximately $1,327,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in D-Wave Quantum by 41.2% during the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company's stock worth $950,220,000 after buying an additional 11,218,255 shares during the last quarter. UBS Group AG grew its stake in D-Wave Quantum by 541.6% during the 3rd quarter. UBS Group AG now owns 12,089,703 shares of the company's stock worth $298,737,000 after buying an additional 10,205,427 shares during the last quarter. State Street Corp grew its stake in D-Wave Quantum by 41.3% during the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company's stock worth $97,333,000 after buying an additional 1,941,762 shares during the last quarter. Clear Street Group Inc. purchased a new position in D-Wave Quantum during the 3rd quarter worth approximately $75,344,000. Finally, Northern Trust Corp grew its stake in D-Wave Quantum by 17.1% during the 3rd quarter. Northern Trust Corp now owns 2,792,035 shares of the company's stock worth $68,991,000 after buying an additional 407,727 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company's stock.

D-Wave Quantum Trading Down 4.1%

Shares of QBTS stock opened at $21.43 on Thursday. The business's 50 day moving average is $17.95 and its two-hundred day moving average is $22.74. D-Wave Quantum Inc. has a twelve month low of $10.60 and a twelve month high of $46.75. The company has a market capitalization of $7.93 billion, a P/E ratio of -18.96 and a beta of 1.95. The company has a current ratio of 42.38, a quick ratio of 42.25 and a debt-to-equity ratio of 0.04.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results 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 return on equity of 49.80% and a negative net margin of 2,957.23%.The company had revenue of $2.86 million for the quarter, compared to the consensus estimate of $4.19 million. During the same period last year, the business posted ($0.02) EPS. The company's revenue was down 80.9% on a year-over-year basis. Equities analysts forecast that D-Wave Quantum Inc. will post -0.44 EPS for the current year.

D-Wave Quantum News Roundup

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

• Positive Sentiment: D-Wave’s bookings surged to $33.4 million, a massive year-over-year jump that suggests strong customer demand and could support future revenue growth. D-Wave Shares Rise After Massive 20x Jump in Bookings Signals Demand Spike
• Positive Sentiment: The company beat earnings expectations with a smaller-than-expected loss, which helped offset the revenue miss and kept some investors focused on execution rather than near-term profitability. QBTS Q1 Earnings Top Estimates, Revenues Miss, Stock Up
• Positive Sentiment: Several analysts stayed constructive after the report, including reaffirmed Buy/Overweight ratings and price targets well above the current level, signaling Wall Street still sees meaningful upside. Analyst rating updates
• Neutral Sentiment: Coverage and earnings-call commentary highlighted D-Wave’s long-term quantum computing opportunity, but also noted that the sector remains highly speculative and competition from peers like IonQ and Rigetti is intense.
• Negative Sentiment: Revenue came in far below expectations at $2.86 million and fell sharply from a year ago, reinforcing concerns that commercialization is still uneven and revenue can be “lumpy.” D-Wave Quantum Analysts Slash Their Forecasts After Q1 Results
• Negative Sentiment: At least one analyst trimmed its price target after the report, showing that the weak top-line results are prompting some caution despite the strong bookings narrative. Mizuho target cut

Analysts Set New Price Targets

QBTS has been the topic of a number of research reports. Canaccord Genuity Group dropped their price target on D-Wave Quantum from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday. 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. Needham & Company LLC restated a "buy" rating and set a $40.00 price target on shares of D-Wave Quantum in a research note on Wednesday. Roth Mkm dropped their price target on D-Wave Quantum from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Finally, Jefferies Financial Group restated a "buy" rating on shares of D-Wave Quantum in a research note on Tuesday. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, D-Wave Quantum presently has an average rating of "Moderate Buy" and an average price target of $34.67.

Insiders Place Their Bets

In other news, Director Rohit Ghai sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $17.62, for a total value of $176,200.00. Following the completion of the sale, the director directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John M. Markovich sold 10,706 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $17.63, for a total value of $188,746.78. Following the completion of the sale, the chief financial officer directly owned 1,451,427 shares of the company's stock, valued at $25,588,658.01. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 31,776 shares of company stock valued at $574,571 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.

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