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

D-Wave Quantum Inc. (NYSE:QBTSGet Free Report) was the recipient of some unusual options trading activity on Friday. Investors acquired 122,862 call options on the company. This is an increase of 185% compared to the typical daily volume of 43,066 call options.

Insider Buying and Selling at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 643,866 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $4.87, for a total transaction of $3,135,627.42. Following the completion of the sale, the insider now directly owns 18,730,193 shares of the company’s stock, valued at approximately $91,216,039.91. This represents a 3.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 20,138,711 shares of company stock valued at $92,022,537 over the last ninety days. Corporate insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at approximately $90,000. Sonora Investment Management Group LLC acquired a new stake in shares of D-Wave Quantum during the fourth quarter worth $135,000. State Street Corp raised its holdings 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 purchasing an additional 17,225 shares during the period. Strategic Advocates LLC bought a new position in shares of D-Wave Quantum in the 4th quarter worth about $148,000. Finally, Arkadios Wealth Advisors acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at about $162,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on QBTS shares. Needham & Company LLC reiterated a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a research note on Friday, November 15th. Craig Hallum increased their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. B. Riley boosted their target price on shares of D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Roth Mkm raised their price target on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum has an average rating of “Buy” and a consensus target price of $6.38.

Read Our Latest Stock Analysis on QBTS

D-Wave Quantum Trading Up 1.1 %

QBTS stock opened at $6.10 on Friday. The company has a market capitalization of $1.64 billion, a P/E ratio of -14.51 and a beta of 1.16. The firm has a 50 day simple moving average of $5.56 and a 200-day simple moving average of $2.62. D-Wave Quantum has a twelve month low of $0.71 and a twelve month high of $11.41.

About D-Wave Quantum

(Get Free Report)

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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