D-Wave Quantum Inc. (NYSE:QBTS – Get 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
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
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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