Investors Purchase High Volume of D-Wave Quantum Call Options (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) was the target of unusually large options trading on Friday. Investors bought 122,862 call options on the stock. This is an increase of approximately 185% compared to the typical daily volume of 43,066 call options.

Insider Transactions at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the transaction, the insider now owns 1,000,000 shares in the company, valued at $4,210,000. This trade represents a 89.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 20,138,711 shares of company stock valued at $92,022,537 in the last quarter. 7.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in D-Wave Quantum during the third quarter worth approximately $42,000. Bogart Wealth LLC acquired a new stake in shares of D-Wave Quantum during the 3rd quarter worth $49,000. Spire Wealth Management purchased a new position in shares of D-Wave Quantum in the 4th quarter worth $90,000. Rhumbline Advisers acquired a new position in D-Wave Quantum in the second quarter valued at $93,000. Finally, Barclays PLC grew its position in D-Wave Quantum by 298.3% during the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after acquiring an additional 89,894 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Stock Performance

Shares of QBTS opened at $6.10 on Friday. D-Wave Quantum has a fifty-two week low of $0.71 and a fifty-two week high of $11.41. The company has a market capitalization of $1.64 billion, a PE ratio of -14.51 and a beta of 1.16. The stock has a fifty day moving average of $5.56 and a two-hundred day moving average of $2.62.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QBTS. Needham & Company LLC restated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Roth Mkm raised their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Benchmark reaffirmed a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Craig Hallum raised their price target on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, B. Riley boosted their price target on D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.38.

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.