Legato Capital Management LLC Takes $604,000 Position in D-Wave Quantum Inc. $QBTS

Legato Capital Management LLC acquired a new stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 23,095 shares of the company’s stock, valued at approximately $604,000.

Several other institutional investors also recently bought and sold shares of the stock. Huntington National Bank boosted 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 acquiring an additional 500 shares during the period. Sigma Planning Corp boosted its holdings in D-Wave Quantum by 3.6% during the 4th quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock valued at $431,000 after acquiring an additional 560 shares during the period. AlphaStar Capital Management LLC boosted its holdings in D-Wave Quantum by 2.2% during the 4th quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company’s stock valued at $708,000 after acquiring an additional 592 shares during the period. Noble Wealth Management PBC boosted its holdings in D-Wave Quantum by 6.7% during the 4th quarter. Noble Wealth Management PBC now owns 9,600 shares of the company’s stock valued at $251,000 after acquiring an additional 600 shares during the period. Finally, Arizona State Retirement System lifted its holdings in D-Wave Quantum by 0.7% in the 4th quarter. Arizona State Retirement System now owns 92,037 shares of the company’s stock worth $2,407,000 after buying an additional 613 shares during the period. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at D-Wave Quantum

In other news, CFO John M. Markovich sold 10,706 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $17.63, for a total value of $188,746.78. Following the completion of the transaction, the chief financial officer owned 1,451,427 shares in the company, valued at $25,588,658.01. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the firm’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 value of $176,200.00. Following the transaction, the director directly owned 27,778 shares of the company’s stock, valued at approximately $489,448.36. This trade represents a 26.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 54,801 shares of company stock worth $1,011,586. 3.20% of the stock is owned by company insiders.

D-Wave Quantum Trading Down 5.6%

QBTS opened at $27.74 on Wednesday. The stock has a market cap of $10.26 billion, a PE ratio of -24.55 and a beta of 1.95. The company has a quick ratio of 21.31, a current ratio of 21.41 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $18.83 and a 200-day moving average of $22.10. D-Wave Quantum Inc. has a 52 week low of $12.75 and a 52 week high of $46.75.

D-Wave Quantum (NYSE:QBTS) last released its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $2.86 million during the quarter, compared to analysts’ expectations of $4.19 million. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The firm’s revenue for the quarter was down 80.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. Equities research analysts predict that D-Wave Quantum Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen assumed coverage on D-Wave Quantum in a report on Thursday, February 12th. They issued a “buy” rating for the company. Weiss Ratings cut D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Mizuho dropped their price objective on D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price objective on shares of D-Wave Quantum in a report on Wednesday, May 13th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Trending Headlines about D-Wave Quantum

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

• Positive Sentiment: D-Wave said it signed a letter of intent with the U.S. Department of Commerce for $100 million in CHIPS and Science Act funding, reinforcing the company’s role in domestic quantum hardware development and potentially lowering funding risk. D-Wave Quantum (QBTS) and Department of Commerce Sign Letter of Intent for $100M in CHIPS and Science Act Funding
• Positive Sentiment: The company also secured second-year funding for its superconducting quantum innovation work, adding another government-backed validation of its technology roadmap. D-Wave Quantum Secures Second-Year Defense Microelectronics Funding
• Positive Sentiment: D-Wave defended its “beyond classical” benchmark claims, which may help support investor confidence in the company’s technical credibility and differentiation. D-Wave’s Quantum Supremacy Result Stands
• Neutral Sentiment: Coverage comparing QBTS with Rigetti highlighted D-Wave’s record bookings and expanding system sales, but this was more of an industry comparison than a new operational update. RGTI vs QBTS: Which Quantum Computing Stock Holds More Promise?
• Negative Sentiment: Despite the positive announcements, the stock cooled after a very strong move, and some commentary suggested the prior rally was simply pausing as traders locked in gains. Why D-Wave Quantum Stock Plummeted Today
• Negative Sentiment: Broader quantum stocks also “cooled off” after last week’s sector surge, suggesting some of QBTS’s weakness reflects profit-taking across the group rather than company-specific disappointment. QTUM ETF Crosses $5 Billion Even As IBM, Rigetti, IonQ, D-Wave Cool Off

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.