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

D-Wave Quantum Inc. (NYSE:QBTS) saw some unusual options trading activity on Friday. Stock investors purchased 135,380 call options on the company. This is an increase of 90% compared to the average volume of 71,392 call options.

Insider Activity

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $6.68, for a total value of $6,680,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John M. Markovich sold 5,582 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,071,206 shares of company stock valued at $53,438,181. 7.22% of the stock is owned by company insiders.

Institutional Trading of D-Wave Quantum

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of D-Wave Quantum by 103.7% during the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company’s stock worth $59,794,000 after acquiring an additional 3,624,407 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of D-Wave Quantum by 23.0% during the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after buying an additional 839,942 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of D-Wave Quantum by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company’s stock worth $24,992,000 after buying an additional 418,468 shares during the last quarter. Bank of America Corp DE grew its stake in shares of D-Wave Quantum by 4,912.4% during the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock worth $21,404,000 after buying an additional 2,497,263 shares during the last quarter. Finally, UNICOM Systems Inc. bought a new stake in shares of D-Wave Quantum during the fourth quarter worth $20,258,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analyst Weigh In

QBTS has been the topic of several research analyst reports. Roth Mkm increased their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday. B. Riley raised their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a report on Friday. Craig Hallum raised their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $8.50 target price on shares of D-Wave Quantum in a report on Friday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $8.42.

D-Wave Quantum Trading Up 47.4 %

NYSE QBTS opened at $10.19 on Friday. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -24.25 and a beta of 1.12. The firm’s 50 day simple moving average is $6.07 and its 200 day simple moving average is $3.88. D-Wave Quantum has a 1 year low of $0.75 and a 1 year high of $11.41.

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.