Encore Global Management LP Takes $433,000 Position in D-Wave Quantum Inc. $QBTS

Encore Global Management LP purchased a new stake in D-Wave Quantum Inc. (NYSE:QBTS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 30,000 shares of the company’s stock, valued at approximately $433,000.

A number of other large investors have also added to or reduced their stakes in QBTS. Sigma Planning Corp raised its holdings in D-Wave Quantum by 3.6% in 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 in the last quarter. AlphaStar Capital Management LLC lifted its position in shares of 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. Thoroughbred Financial Services LLC grew its holdings in shares of D-Wave Quantum by 0.5% during the 4th quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company’s stock worth $3,447,000 after purchasing an additional 602 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of D-Wave Quantum by 0.7% during the 4th quarter. Arizona State Retirement System now owns 92,037 shares of the company’s stock worth $2,407,000 after purchasing an additional 613 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of D-Wave Quantum by 2.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,297 shares of the company’s stock worth $766,000 after purchasing an additional 615 shares during the period. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on QBTS. Canaccord Genuity Group dropped their price target on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Mizuho raised their target price on shares of D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Weiss Ratings raised shares of D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of D-Wave Quantum in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.47.

Insider Activity

In other D-Wave Quantum news, CFO John M. Markovich sold 328,752 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $27.70, for a total value of $9,106,430.40. Following the sale, the chief financial officer owned 1,442,820 shares in the company, valued at $39,966,114. This trade represents a 18.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John D. Dilullo sold 7,850 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.43, for a total transaction of $191,775.50. Following the sale, the director directly owned 21,310 shares in the company, valued at approximately $520,603.30. The trade was a 26.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,363,842 shares of company stock valued at $35,789,148. Corporate insiders own 1.30% of the company’s stock.

D-Wave Quantum Trading Down 9.6%

Shares of QBTS stock opened at $17.64 on Wednesday. D-Wave Quantum Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $46.75. The stock’s fifty day moving average price is $22.99 and its two-hundred day moving average price is $21.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. The company has a market cap of $6.53 billion, a PE ratio of -15.61 and a beta of 2.11.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping 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%.D-Wave Quantum’s revenue was down 80.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) EPS. Equities analysts predict that D-Wave Quantum Inc. will post -0.42 EPS for the current fiscal year.

D-Wave Quantum News Summary

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

• Positive Sentiment: Expanded AT&T partnership validates commercial demand. AT&T plans to expand its use of D-Wave’s quantum-annealing systems across network operations to address complex optimization problems. The companies highlighted a benchmark in which a network workload was reduced from roughly one hour to 15 seconds, or a 240-fold acceleration. The agreement is viewed as evidence that D-Wave’s technology is moving beyond research into live enterprise applications. AT&T Signs Agreement to Expand Use of D-Wave’s Quantum Computing Technology Across Network Operations
• Positive Sentiment: Analysts remain optimistic. Rosenblatt Securities reaffirmed its Buy rating and set a $43 price target, implying substantial upside from recent levels. Broader analyst commentary also points to strong bookings, revenue visibility and liquidity heading into D-Wave’s second-quarter results. Rosenblatt Reiterates Buy Rating
• Neutral Sentiment: Sector-wide volatility is driving the near-term move. Quantum stocks rallied strongly following the D-Wave and AT&T announcement, but have since retreated as Nvidia-led concerns about AI infrastructure spending triggered a broader pullback. This suggests the current weakness may reflect profit-taking and risk reduction across the sector rather than a deterioration in D-Wave’s AT&T opportunity. Quantum Stocks Retreat in Premarket
• Negative Sentiment: Financial results remain a major risk. D-Wave’s latest quarter showed revenue of $2.86 million, down 80.9% year over year and below expectations, although its adjusted loss per share was better than forecast. The company remains unprofitable, with significant negative margins, making the stock highly dependent on future contract growth and commercialization.
• Negative Sentiment: Insider selling adds a minor negative signal. Vice President Sophie Ames sold 3,070 shares worth approximately $52,000 under a pre-arranged Rule 10b5-1 plan. The sale reduced her stake by only 0.52%, limiting its significance, but it may still contribute to cautious sentiment. SEC Insider Filing

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.