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

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

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the transaction, the insider now owns 1,000,000 shares in the company, valued at approximately $4,210,000. This represents a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 10,081,459 shares of company stock valued at $45,337,894. Corporate insiders own 7.22% of the company’s stock.

Institutional Trading of D-Wave Quantum

Large investors have recently bought and sold shares of the company. Barclays PLC increased its stake in shares of D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after purchasing an additional 89,894 shares in the last quarter. Silverleafe Capital Partners LLC purchased a new position in D-Wave Quantum in the 4th quarter valued at approximately $820,000. Geode Capital Management LLC raised its holdings in D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after acquiring an additional 645,039 shares during the period. State Street Corp lifted its position in shares of D-Wave Quantum by 0.9% during the third quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after acquiring an additional 17,225 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of D-Wave Quantum by 23.0% in the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after acquiring an additional 839,942 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QBTS has been the subject of several analyst reports. Roth Mkm increased their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Craig Hallum raised 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. Needham & Company LLC reiterated a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Benchmark upped 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. Finally, B. Riley increased their price objective on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, D-Wave Quantum currently has an average rating of “Buy” and an average target price of $5.63.

D-Wave Quantum Stock Performance

QBTS stock traded down $0.08 during mid-day trading on Friday, hitting $6.02. The company had a trading volume of 53,970,674 shares, compared to its average volume of 86,152,813. D-Wave Quantum has a 12 month low of $0.68 and a 12 month high of $11.41. The stock’s fifty day moving average price is $4.74 and its two-hundred day moving average price is $2.31. The firm has a market cap of $1.62 billion, a PE 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.