D-Wave Quantum Inc. (NYSE:QBTS) Short Interest Update

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 26,140,000 shares, an increase of 52.8% from the November 15th total of 17,110,000 shares. Currently, 21.6% of the shares of the company are sold short. Based on an average trading volume of 16,480,000 shares, the days-to-cover ratio is currently 1.6 days.

D-Wave Quantum Stock Up 27.7 %

QBTS traded up $1.08 during trading on Friday, reaching $5.00. The stock had a trading volume of 80,668,356 shares, compared to its average volume of 8,178,060. D-Wave Quantum has a 1-year low of $0.68 and a 1-year high of $5.38. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.89 and a beta of 1.79. The stock has a 50 day moving average of $1.99 and a two-hundred day moving average of $1.38.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QBTS. Needham & Company LLC reissued a "buy" rating and set a $2.25 target price on shares of D-Wave Quantum in a research note on Friday, November 15th. B. Riley boosted their price objective on D-Wave Quantum from $3.75 to $4.50 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Roth Mkm raised their target price on D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $3.71.

Insider Buying and Selling

In other D-Wave Quantum 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 sale, the insider now directly owns 1,000,000 shares in the company, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its holdings in D-Wave Quantum by 23.0% during the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company's stock worth $4,409,000 after buying an additional 839,942 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 worth $2,513,000 after acquiring an additional 645,039 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of D-Wave Quantum in the 2nd quarter worth $265,000. Bank of New York Mellon Corp acquired a new stake in shares of D-Wave Quantum during the second quarter worth $251,000. Finally, Vanguard Group Inc. lifted its holdings in shares of D-Wave Quantum by 17.9% during the first quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company's stock valued at $2,183,000 after purchasing an additional 162,688 shares during the last quarter. Institutional investors own 42.47% of the company's stock.

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.