D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors bought 40,054 call options on the company. This represents an increase of approximately 507% compared to the typical daily volume of 6,596 call options.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft bought a new stake in shares of D-Wave Quantum during the 2nd quarter valued at about $28,000. Thoroughbred Financial Services LLC bought a new stake in D-Wave Quantum during the 2nd quarter valued at approximately $45,000. SG Americas Securities LLC purchased a new position in shares of D-Wave Quantum during the 3rd quarter worth approximately $42,000. Bogart Wealth LLC purchased a new position in shares of D-Wave Quantum during the 3rd quarter worth approximately $49,000. Finally, 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 worth $62,000 after acquiring an additional 25,067 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.
D-Wave Quantum Price Performance
QBTS traded down $0.59 during midday trading on Wednesday, reaching $4.09. 86,035,753 shares of the company's stock traded hands, compared to its average volume of 7,660,418. D-Wave Quantum has a 52 week low of $0.68 and a 52 week high of $5.38. The firm has a fifty day moving average of $1.78 and a two-hundred day moving average of $1.31. The stock has a market capitalization of $916.22 million, a price-to-earnings ratio of -9.52 and a beta of 1.77.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on QBTS. Roth Mkm dropped their target price on D-Wave Quantum from $3.00 to $2.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. B. Riley increased their price objective on D-Wave Quantum from $3.75 to $4.50 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum presently has an average rating of "Buy" and an average target price of $2.88.
Get Our Latest Research Report on D-Wave Quantum
D-Wave Quantum Company Profile
(
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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.
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