World Investment Advisors Purchases 27,592 Shares of D-Wave Quantum Inc. $QBTS

Key Points

• World Investment Advisors increased its stake in D-Wave Quantum by 195.7% in the fourth quarter, buying 27,592 additional shares and bringing its total holdings to 41,691 shares worth about $1.09 million.
• Institutional interest in QBTS remains notable, with several other funds also adding shares and institutions collectively owning 42.47% of the stock.
• Analysts are still broadly constructive on D-Wave Quantum: the stock has a Moderate Buy consensus rating and an average price target of $34.67, even as the company posted mixed Q1 results with weaker-than-expected revenue.

World Investment Advisors boosted its position in shares of D-Wave Quantum Inc. (NYSE:QBTS - Free Report) by 195.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,691 shares of the company's stock after purchasing an additional 27,592 shares during the period. World Investment Advisors' holdings in D-Wave Quantum were worth $1,090,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in D-Wave Quantum by 17.9% during the 3rd quarter. Huntington National Bank now owns 3,300 shares of the company's stock valued at $82,000 after purchasing an additional 500 shares during the last quarter. Sigma Planning Corp raised its stake in shares of D-Wave Quantum by 3.6% in the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company's stock worth $431,000 after acquiring an additional 560 shares during the last quarter. AlphaStar Capital Management LLC raised its stake in shares of D-Wave Quantum by 2.2% in the fourth quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company's stock worth $708,000 after acquiring an additional 592 shares during the last quarter. Noble Wealth Management PBC raised its stake in shares of D-Wave Quantum by 6.7% in the fourth quarter. Noble Wealth Management PBC now owns 9,600 shares of the company's stock worth $251,000 after acquiring an additional 600 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in shares of D-Wave Quantum by 0.5% in the fourth quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company's stock worth $3,447,000 after acquiring an additional 602 shares during the last quarter. 42.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QBTS. Weiss Ratings downgraded shares of D-Wave Quantum from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of D-Wave Quantum from a "hold" rating to a "sell" rating in a research note on Saturday, February 7th. Northland Securities began 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 target price for the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of D-Wave Quantum in a research note on Tuesday, May 12th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $40.00 price target on shares of D-Wave Quantum in a research report on Wednesday, May 13th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, D-Wave Quantum currently has an average rating of "Moderate Buy" and a consensus price target of $34.67.

Trending Headlines about D-Wave Quantum

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

• Positive Sentiment: Several firms reiterated bullish views on QBTS, including Buy or Overweight ratings from Cantor Fitzgerald, Canaccord Genuity, Needham and Rosenblatt, signaling that analysts still see long-term upside. Article Title
• Positive Sentiment: The company’s Q1 update showed record bookings of $33.4 million, which suggests demand for its quantum systems and services remains strong even though revenue was lower than expected. Article Title
• Neutral Sentiment: Coverage this week highlighted D-Wave as a closely watched name in the quantum-computing trade, with investors debating whether recent weakness is a buying opportunity after the Q1 reaction. Article Title
• Negative Sentiment: QBTS is being hit by a sector-wide selloff in quantum stocks, which is overshadowing company-specific positives and dragging shares lower alongside peers. Article Title
• Negative Sentiment: Investors are still weighing weak top-line results from Q1, including revenue of $2.86 million, which keeps questions alive about near-term profitability and execution. Article Title

D-Wave Quantum Stock Down 0.6%

Shares of NYSE:QBTS opened at $20.24 on Monday. D-Wave Quantum Inc. has a one year low of $11.32 and a one year high of $46.75. The company has a 50 day moving average of $18.05 and a 200-day moving average of $22.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of -17.91 and a beta of 1.95.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $4.19 million. During the same quarter in the previous year, the company earned ($0.02) EPS. D-Wave Quantum's revenue was down 80.9% on a year-over-year basis. On average, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.44 earnings per share for the current year.

Insider Activity

In related news, Director Rohit Ghai sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $17.62, for a total transaction of $176,200.00. Following the completion of the transaction, the director owned 27,778 shares in the company, valued at approximately $489,448.36. The trade was a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Dilullo sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total transaction of $144,080.00. Following the transaction, the director owned 19,803 shares of the company's stock, valued at approximately $356,652.03. This represents a 28.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,776 shares of company stock worth $574,571 in the last ninety days. Company insiders own 3.20% of the company's stock.

D-Wave Quantum Company 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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