D-Wave Quantum Sees Unusually High Options Volume (NYSE:QBTS)

On December 28, 2024, there was a notable surge in options trading activity for D-Wave Quantum Inc. (NYSE:QBTS). On this day, traders bought a total of 36,653 call options, marking an 81% increase compared to the usual volume, which stands at about 20,251 call options.

Analysts Adjust Price Targets

Multiple brokerage firms have recently revised their price targets for QBTS. On December 20, Craig Hallum raised its target price for D-Wave Quantum from $2.50 to $9.00 while assigning a “buy” rating to the stock. Additionally, B. Riley updated their price objective from $3.75 to $4.50 with a “buy” stance as noted in their report from November 25. Roth Mkm also increased the target price from $3.00 to $7.00 with a “buy” recommendation in their analysis published on December 12. Moreover, Needham & Company LLC reiterated a “buy” rating while setting a target price at $2.25 on November 15. Benchmark has enhanced their target on D-Wave Quantum from $3.00 to $8.00, also advising a “buy” rating as per their December 20 report. As it stands, six research analysts have rated the stock as a buy, and according to MarketBeat.com, D-Wave Quantum holds a consensus rating of “Buy” with an average price target of $5.63.

D-Wave Quantum Stock Performance

On the market opening of the following Friday, D-Wave Quantum traded at $9.91. It has recorded a 52-week low of $0.68 and a high of $11.41 during this period. As of now, the company has a 50-day moving average price of $3.41 and a 200-day average of $1.85. Its market capitalization is approximately $2.22 billion, with a price-to-earnings (PE) ratio of -23.60 and a beta of 1.79.

Recent Insider Transactions

In terms of insider trading, a significant action occurred when major shareholder Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum on December 12. The shares were sold at an average price of $4.21, totaling about $35,522,266.53. Following this transaction, the insider retained ownership of 1,000,000 shares valued at around $4,210,000, reflecting an 89.40% decrease in shares held. Details of this transaction have been disclosed in a filing with the Securities & Exchange Commission. Over the last three months, insiders have offloaded a cumulative total of 10,081,459 shares worth approximately $45,337,894. Currently, 7.22% of the company's stock is owned by insiders.

Institutional Investment Changes

Numerous institutional investors have recently adjusted their investments in D-Wave Quantum. Notably, Bank of New York Mellon Corp established a new stake in D-Wave during the second quarter worth $251,000. Rhumbline Advisers and Thoroughbred Financial Services LLC also acquired stakes valued at $93,000 and $45,000, respectively. Other institutional movements included XTX Topco Ltd and Marshall Wace LLP, who bought stakes worth approximately $163,000 and $265,000, respectively. As of now, institutional investors and hedge funds collectively own around 42.47% of D-Wave Quantum's stock.

About D-Wave Quantum

D-Wave Quantum Inc. specializes in developing and delivering quantum computing systems, software, and services across the globe. Among its offerings are the Advantage fifth-generation quantum computer, the Ocean suite of open-source Python tools, and Leap, a cloud-based platform providing real-time access to quantum computing resources and developer tools.

D-Wave, Quantum, Options