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

D-Wave Quantum Inc. (NYSE:QBTS) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 10,239 call options on the stock. This represents an increase of 186% compared to the average volume of 3,578 call options.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QBTS. State Street Corp increased its position in D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after buying an additional 17,225 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of D-Wave Quantum during the second quarter valued at about $28,000. Instrumental Wealth LLC raised its position in shares of D-Wave Quantum by 85.9% in the 2nd quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock valued at $62,000 after purchasing an additional 25,067 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of D-Wave Quantum in the 2nd quarter valued at approximately $45,000. Finally, SG Americas Securities LLC acquired a new stake in D-Wave Quantum in the 3rd quarter worth approximately $42,000. Institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

QBTS has been the topic of a number of research analyst reports. Roth Mkm cut their price target on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a report on Friday, November 15th. Westpark Capital reiterated a “buy” rating and set a $3.00 target price on shares of D-Wave Quantum in a report on Friday, August 9th. Benchmark lowered their price target on shares of D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, B. Riley lifted their price objective on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $2.88.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $2.70 on Wednesday. The company has a market capitalization of $604.83 million, a PE ratio of -6.43 and a beta of 0.96. The company has a 50-day simple moving average of $1.27 and a two-hundred day simple moving average of $1.15. D-Wave Quantum has a one year low of $0.68 and a one year high of $3.77.

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.