Tempo Wealth LLC Makes New $774,000 Investment in D-Wave Quantum Inc. $QBTS

Key Points

• Tempo Wealth LLC disclosed a new position in D-Wave Quantum, buying 29,610 shares valued at about $774,000 in the fourth quarter. Several other hedge funds also added to or initiated stakes, and institutional investors now own 42.47% of the stock.
• D-Wave has been boosted by positive business and analyst news, including the launch of a gate-model quantum computing simulator for error-aware programming and reports of up to $100 million in CHIPS Act-related backing. Multiple firms also raised price targets, with the average analyst target at $36.80 and a “Moderate Buy” rating.
• Despite the upbeat headlines, the company still faces mixed fundamentals and insider selling: revenue fell sharply year over year in the latest quarter, and insiders including the CEO have sold shares in recent months. The stock also remains volatile, trading well below its 52-week high even after recent gains.

Tempo Wealth LLC purchased a new position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 29,610 shares of the company's stock, valued at approximately $774,000.

Several other hedge funds also recently modified their holdings of QBTS. Root Financial Partners LLC raised its stake in D-Wave Quantum by 388.0% during the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company's stock valued at $26,000 after purchasing an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of D-Wave Quantum during the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of D-Wave Quantum by 267.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company's stock worth $30,000 after purchasing an additional 838 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in shares of D-Wave Quantum during the fourth quarter valued at about $31,000. Finally, Ancora Advisors LLC bought a new stake in shares of D-Wave Quantum in the third quarter valued at about $30,000. 42.47% of the stock is owned by institutional investors.

Key D-Wave Quantum News

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

• Positive Sentiment: D-Wave announced the world’s first gate-model quantum computing simulator for error-aware programming, a product that could help developers build more reliable quantum applications and support its push into commercial gate-model computing. Article Title
• Positive Sentiment: The company also said it secured up to $100 million in CHIPS Act-related backing and outlined a roadmap toward 100 logical qubits by 2032, which investors may view as validation of its federal support and future R&D pipeline. Article Title
• Positive Sentiment: Analyst sentiment remains constructive, with recent price-target increases from firms including Mizuho, Roth MKM, and B. Riley reinforcing the view that QBTS may still have upside if execution improves. Article Title
• Neutral Sentiment: Commentary continues to frame D-Wave as a leading pure-play quantum stock, but also notes that the valuation is demanding and leaves little room for disappointment. Article Title
• Negative Sentiment: Recent SEC filings showed director Rohit Ghai sold shares under a pre-arranged trading plan, which can weigh on sentiment even if the sale was not driven by a negative outlook. Article Title
• Negative Sentiment: Some traders appear to be taking profits after a sharp sector rally, which has created volatility across quantum-computing names and may limit follow-through gains in QBTS. Article Title

D-Wave Quantum Stock Performance

Shares of NYSE:QBTS opened at $24.65 on Friday. The business's fifty day moving average price is $22.53 and its two-hundred day moving average price is $22.32. D-Wave Quantum Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $46.75. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -21.82 and a beta of 2.05. 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 (EPS) 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 company had revenue of $2.86 million during the quarter, compared to analysts' expectations of $4.19 million. During the same period last year, the business earned ($0.02) earnings per share. The business's revenue was down 80.9% on a year-over-year basis. As a group, analysts predict that D-Wave Quantum Inc. will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on QBTS shares. Stifel Nicolaus set a $35.00 target price on D-Wave Quantum in a research report on Tuesday, June 2nd. Northland Securities initiated coverage on D-Wave Quantum in a research report on Monday, April 20th. They issued a "market perform" rating and a $22.00 price objective for the company. Zacks Research raised D-Wave Quantum from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $43.00 target price on shares of D-Wave Quantum in a research note on Thursday, June 11th. Fourteen 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $36.80.

Insider Activity

In other news, VP Sophie C. Ames sold 23,025 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $18.98, for a total value of $437,014.50. Following the completion of the transaction, the vice president owned 596,803 shares in the company, valued at approximately $11,327,320.94. The trade was a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan E. Baratz sold 687,627 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $26.13, for a total value of $17,967,693.51. Following the completion of the transaction, the chief executive officer directly owned 3,299,771 shares in the company, valued at $86,223,016.23. The trade was a 17.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,363,842 shares of company stock worth $35,802,656 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

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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