Traders Purchase Large Volume of D-Wave Quantum Call Options (NYSE:QBTS)

On December 11th, 2024, D-Wave Quantum Inc. (NYSE:QBTS) experienced significant activity in the options market, with traders purchasing an impressive total of 40,054 call options. This number represents a remarkable increase of approximately 507% compared to the regular trading volume of around 6,596 call options.

Institutional Investors Weigh In On D-Wave Quantum

Recent modifications in holdings by several hedge funds highlight their interest in D-Wave Quantum. In the third quarter, State Street Corp increased its stake by 0.9%, now holding 2,020,977 shares valued at $1,986,000 after acquiring an additional 17,225 shares. Baader Bank Aktiengesellschaft entered a new position in D-Wave Quantum, investing approximately $28,000 in the second quarter. Meanwhile, Instrumental Wealth LLC expanded its holdings significantly by 85.9% during the same quarter, now owning 54,240 shares valued at $62,000 after purchasing an extra 25,067 shares. Thoroughbred Financial Services LLC and SG Americas Securities LLC also made new investments during the second and third quarters, adding positions valued at $45,000 and $42,000, respectively. Notably, around 42.47% of D-Wave Quantum's stock is now held by hedge funds and other institutional investors.

D-Wave Quantum Stock Performance

On the day of this trading activity, shares of D-Wave Quantum opened at $4.68. Over the past year, the stock has seen a low of $0.68 and a high of $5.38. The company holds a market capitalization of approximately $1.05 billion, with a PE ratio of -11.67 and a beta of 1.77. Its fifty-day and two-hundred-day moving averages stand at $1.71 and $1.29, respectively.

Analyst Ratings Changes

D-Wave Quantum has been featured in multiple research reports lately. Roth Mkm adjusted their price target from $3.00 to $2.00 while maintaining a "buy" rating in a report on August 13th. Conversely, B. Riley increased their target from $3.75 to $4.50, also issuing a "buy" rating on November 25th. Moreover, Needham & Company LLC reiterated a "buy" rating and assigned a price objective of $2.25 on November 15th. Currently, six equity research analysts provide ratings on this stock, which collectively indicate an average buy rating and a target price of $2.88 according to MarketBeat.com.

D-Wave Quantum Company Profile

D-Wave Quantum Inc specializes in quantum computing systems, software, and services globally. The company offers products like its fifth-generation quantum computer, Advantage, and Leap, a cloud-based service providing real-time access to a live quantum computer along with a suit of other services and tools for developers.

Traders, Options, Investors