VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in D-Wave Quantum Inc. $QBTS

Key Points

• Virginia Retirement Systems bought 54,700 D-Wave Quantum shares worth approximately $1.31 million, while institutional investors collectively own 42.47% of QBTS.
• Analysts remain broadly optimistic, with 13 Buy ratings, two Holds, and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $36.27.
• D-Wave remains unprofitable after missing quarterly revenue and EPS expectations, while its potential $100 million U.S. government funding deal could improve liquidity but dilute shareholders through newly issued stock.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in D-Wave Quantum Inc. (NASDAQ:QBTS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 54,700 shares of the company's stock, valued at approximately $1,312,000.

Several other hedge funds also recently modified their holdings of QBTS. CoreCap Advisors LLC raised its position in shares of D-Wave Quantum by 9.2% in the second quarter. CoreCap Advisors LLC now owns 6,115 shares of the company's stock valued at $147,000 after buying an additional 515 shares during the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of D-Wave Quantum by 0.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company's stock valued at $3,447,000 after buying an additional 602 shares during the period. Comerica Bank boosted its position in D-Wave Quantum by 1.8% during the third quarter. Comerica Bank now owns 36,443 shares of the company's stock worth $901,000 after acquiring an additional 643 shares during the last quarter. Presilium Private Wealth LLC boosted its position in D-Wave Quantum by 6.9% during the first quarter. Presilium Private Wealth LLC now owns 10,657 shares of the company's stock worth $154,000 after acquiring an additional 687 shares during the last quarter. Finally, Main Management ETF Advisors LLC grew its stake in D-Wave Quantum by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 69,687 shares of the company's stock worth $1,822,000 after acquiring an additional 712 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at D-Wave Quantum

In related news, CFO John Markovich sold 200,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.71, for a total transaction of $5,142,000.00. Following the sale, the chief financial officer directly owned 1,142,820 shares in the company, valued at approximately $29,381,902.20. This trade represents a 14.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Sophie Ames sold 3,070 shares of the business's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $16.95, for a total value of $52,036.50. Following the transaction, the vice president directly owned 589,009 shares in the company, valued at $9,983,702.55. This trade represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 217,688 shares of company stock worth $5,570,847. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on 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 price target on the stock. Weiss Ratings raised D-Wave Quantum from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 28th. Canaccord Genuity Group set a $35.00 target price on D-Wave Quantum in a research note on Thursday, August 6th. Wedbush assumed coverage on D-Wave Quantum in a research report on Monday, August 3rd. They set an "outperform" rating and a $40.00 target price on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.27.

D-Wave Quantum Stock Up 0.8%

Shares of NASDAQ QBTS opened at $16.80 on Friday. D-Wave Quantum Inc. has a 12-month low of $12.75 and a 12-month high of $46.75. The company has a market cap of $6.21 billion, a P/E ratio of -23.66 and a beta of 2.15. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $18.68 and a 200 day moving average price of $19.98.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The company had revenue of $3.08 million during the quarter, compared to analysts' expectations of $4.03 million. During the same period last year, the business earned ($0.08) earnings per share. The company's revenue for the quarter was down 0.6 compared to the same quarter last year. Research analysts anticipate that D-Wave Quantum Inc. will post -0.46 EPS for the current fiscal year.

More D-Wave Quantum News

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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