D-Wave Quantum Experiences Unusually High Options Trading Volume

On December 28th, 2024, D-Wave Quantum Inc. (NYSE:QBTS) reported a significant surge in options trading activity. Specifically, traders purchased 36,653 call options, reflecting an impressive 81% increase from the average volume of 20,251 call options.

New Price Targets Set by Analysts

In recent developments, several brokerage firms have updated their price targets for D-Wave Quantum shares. Craig Hallum raised its target from $2.50 to $9.00, giving the stock a “buy” rating on December 20th. B. Riley also adjusted its price objective from $3.75 to $4.50, maintaining a “buy” rating in a note released on November 25th. In addition, Roth Mkm increased its target for QBTS from $3.00 to $7.00 with a “buy” recommendation as of December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a price target of $2.25 on November 15th, while Benchmark raised its price target from $3.00 to $8.00 on December 20th. Overall, MarketBeat.com indicates that six research analysts have given QBTS a “buy” rating, resulting in a consensus price target of $5.63.

D-Wave Quantum Stock Performance

As of Friday, D-Wave Quantum opened at $9.91. The stock has experienced volatility over the past year, with a 52-week low of $0.68 and a high of $11.41. Its 50-day moving average price stands at $3.41, while the 200-day moving average is at $1.85. The company has a market capitalization of $2.22 billion, a PE ratio of -23.60, and a beta of 1.79.

Insider Trading Activity

In related news, major stakeholder Sector Pension Investment publicly disclosed the sale of 8,437,593 shares on December 12th, at an average price of $4.21, amounting to approximately $35.52 million. After the sale, this insider now holds around one million shares, valued at approximately $4.21 million, showing a significant reduction of 89.40% in their holdings. Over the past three months, insiders have sold a total of 10,081,459 shares valued at $45.34 million, representing 7.22% of the company’s stock held by insiders.

Institutional Investments in D-Wave Quantum

Recently, numerous institutional investors have adjusted their positions in D-Wave Quantum. During the second quarter, Bank of New York Mellon Corp acquired a new stake valued at $251,000, while Rhumbline Advisers purchased shares worth about $93,000. Other new stakes include Thoroughbred Financial Services LLC acquiring shares worth $45,000, and XTX Topco Ltd investing approximately $163,000. Moreover, Marshall Wace LLP also acquired a new position in D-Wave Quantum valued at about $265,000. Currently, institutional investors and hedge funds collectively hold approximately 42.47% of the company’s stock.

About D-Wave Quantum Inc.

D-Wave Quantum Inc. specializes in the development and delivery of quantum computing systems, software, and services globally. The company offers its fifth-generation quantum computer, named Advantage, along with Ocean, a suite of open-source Python tools, and Leap, a cloud-based service that grants real-time access to a live quantum computer and various related resources.

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D-Wave, Options, Trading