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

D-Wave Quantum Inc. (NYSE:QBTS) saw some unusual options trading activity on Friday. Stock traders acquired 45,052 call options on the stock. This represents an increase of approximately 42% compared to the average daily volume of 31,639 call options.

Insider Transactions at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 643,866 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $4.87, for a total transaction of $3,135,627.42. Following the completion of the transaction, the insider now owns 18,730,193 shares in the company, valued at approximately $91,216,039.91. This represents a 3.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 10,081,459 shares of company stock valued at $45,337,894 over the last quarter. Corporate insiders own 7.22% of the company’s stock.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in D-Wave Quantum in the second quarter valued at $251,000. Rhumbline Advisers bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at about $93,000. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at about $45,000. XTX Topco Ltd bought a new stake in D-Wave Quantum in the second quarter worth approximately $163,000. Finally, Marshall Wace LLP acquired a new position in D-Wave Quantum in the second quarter valued at approximately $265,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on QBTS shares. Craig Hallum upped their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Roth Mkm upped their price objective 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. Needham & Company LLC reissued a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. B. Riley lifted their target price 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. Finally, Benchmark raised their price objective on shares of D-Wave Quantum from $3.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of “Buy” and an average price target of $5.63.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock traded down $0.08 on Friday, hitting $6.02. The stock had a trading volume of 53,970,674 shares, compared to its average volume of 86,152,813. The stock has a 50 day moving average of $4.74 and a 200 day moving average of $2.31. D-Wave Quantum has a twelve month low of $0.68 and a twelve month high of $11.41. The firm has a market capitalization of $1.62 billion, a P/E ratio of -14.33 and a beta of 1.16.

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.