Investors Buy Large Volume of D-Wave Quantum Call Options (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) saw unusually large options trading on Thursday. Stock investors acquired 36,653 call options on the company. This is an increase of 81% compared to the average volume of 20,251 call options.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. B. Riley boosted their price target on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Craig Hallum boosted their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a report on Friday, November 15th. Roth Mkm raised their price target on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Benchmark boosted their price objective on D-Wave Quantum from $3.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum currently has an average rating of “Buy” and an average price target of $5.63.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $9.90 on Friday. The company has a fifty day moving average of $3.24 and a 200-day moving average of $1.79. D-Wave Quantum has a 52-week low of $0.68 and a 52-week high of $10.50. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -23.57 and a beta of 1.79.

Insider Transactions at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the transaction, the insider now owns 1,000,000 shares of the company’s stock, valued at $4,210,000. The trade was a 89.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 10,081,459 shares of company stock valued at $45,337,894 over the last ninety days. 7.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On D-Wave Quantum

Institutional investors have recently bought and sold shares of the stock. Thoroughbred Financial Services LLC purchased a new position in shares of D-Wave Quantum during the second quarter valued at approximately $45,000. SG Americas Securities LLC purchased a new position in D-Wave Quantum during the 3rd quarter valued at about $42,000. Bogart Wealth LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter worth approximately $49,000. Rhumbline Advisers bought a new stake in D-Wave Quantum in the second quarter worth $93,000. Finally, Barclays PLC grew its position in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares during the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.