D-Wave Quantum Target of Unusually Large Options Trading (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) saw unusually large options trading on Wednesday. Stock traders acquired 100,953 call options on the company. This represents an increase of approximately 80% compared to the average daily volume of 55,949 call options.

D-Wave Quantum Stock Down 1.7 %

Shares of QBTS traded down $0.13 during mid-day trading on Friday, hitting $7.27. 93,146,827 shares of the company's stock traded hands, compared to its average volume of 87,516,805. D-Wave Quantum has a 1 year low of $0.75 and a 1 year high of $11.41. The firm has a market capitalization of $1.96 billion, a P/E ratio of -17.30 and a beta of 1.10. The business's 50-day moving average price is $6.82 and its 200-day moving average price is $3.35.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QBTS shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $2.25 price target on shares of D-Wave Quantum in a research note on Friday, November 15th. Benchmark reaffirmed a "buy" rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Roth Mkm boosted their target price on D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. B. Riley boosted their target price on D-Wave Quantum from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Craig Hallum boosted their target price 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum presently has an average rating of "Buy" and an average price target of $6.71.

Insider Buying and Selling

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares of the company's stock, valued at $12,343,436.16. The trade was a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of D-Wave Quantum stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. Insiders sold 20,152,665 shares of company stock worth $92,096,075 in the last quarter. 7.22% of the stock is owned by insiders.

Institutional Investors Weigh In On D-Wave Quantum

Several hedge funds have recently made changes to their positions in QBTS. SG Americas Securities LLC bought a new stake in shares of D-Wave Quantum during the third quarter valued at approximately $42,000. Bogart Wealth LLC bought a new stake in shares of D-Wave Quantum during the third quarter valued at approximately $49,000. Penserra Capital Management LLC boosted its position in shares of 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 valued at $4,409,000 after purchasing an additional 839,942 shares in the last quarter. State Street Corp boosted 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 valued at $1,986,000 after purchasing an additional 17,225 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of 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 purchasing an additional 89,894 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors.

About D-Wave Quantum

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.