Traders Buy High Volume of Call Options on D-Wave Quantum (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) was the target of unusually large options trading on Wednesday. Stock investors bought 40,054 call options on the company. This represents an increase of 507% compared to the typical daily volume of 6,596 call options.

Insider Buying and Selling

In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the transaction, the insider now directly owns 1,000,000 shares of the company’s stock, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 7.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On D-Wave Quantum

Large investors have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its stake in D-Wave Quantum by 23.0% during the 3rd 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 during the period. Geode Capital Management LLC raised its stake 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 in the last quarter. State Street Corp boosted 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 worth $1,986,000 after acquiring an additional 17,225 shares during the period. Vanguard Group Inc. grew its stake in shares of D-Wave Quantum by 17.9% in the first quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock worth $2,183,000 after purchasing an additional 162,688 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of D-Wave Quantum during the second quarter valued at $265,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

NYSE QBTS opened at $3.91 on Friday. D-Wave Quantum has a 1-year low of $0.68 and a 1-year high of $5.38. The business’s 50-day simple moving average is $1.85 and its 200-day simple moving average is $1.33. The firm has a market capitalization of $875.88 million, a P/E ratio of -10.74 and a beta of 1.79.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on QBTS shares. Roth Mkm raised their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Finally, 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 report on Monday, November 25th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum presently has an average rating of “Buy” and a consensus price target of $3.71.

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.