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

D-Wave Quantum Inc. (NYSE:QBTS) was the recipient of some unusual options trading activity on Tuesday. Investors bought 10,239 call options on the stock. This is an increase of 186% compared to the average daily volume of 3,578 call options.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QBTS shares. Westpark Capital restated a “buy” rating and set a $3.00 target price on shares of D-Wave Quantum in a research report on Friday, August 9th. Benchmark decreased their price objective on shares of D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. B. Riley raised their target price on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Monday. Roth Mkm cut their price target on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum currently has a consensus rating of “Buy” and a consensus target price of $2.88.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $2.74 on Thursday. The stock has a market capitalization of $613.79 million, a P/E ratio of -6.52 and a beta of 0.96. D-Wave Quantum has a one year low of $0.68 and a one year high of $3.77. The firm’s 50 day simple moving average is $1.30 and its two-hundred day simple moving average is $1.16.

Hedge Funds Weigh In On D-Wave Quantum

Institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC grew its position 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 worth $4,409,000 after acquiring an additional 839,942 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of D-Wave Quantum by 33.8% during the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after purchasing an additional 645,039 shares during the period. Marshall Wace LLP bought a new position in shares of D-Wave Quantum in the second quarter worth approximately $265,000. Bank of New York Mellon Corp purchased a new position in shares of D-Wave Quantum in the second quarter worth $251,000. Finally, Vanguard Group Inc. raised its holdings in D-Wave Quantum by 17.9% during the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock valued at $2,183,000 after buying an additional 162,688 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

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.