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

D-Wave Quantum Inc. (NYSE:QBTS) saw some unusual options trading activity on Friday. Stock investors acquired 45,052 call options on the company. This represents an increase of approximately 42% compared to the typical daily volume of 31,639 call options.

D-Wave Quantum Price Performance

Shares of D-Wave Quantum stock opened at $5.77 on Friday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -13.74 and a beta of 1.16. The firm’s 50-day moving average is $4.84 and its two-hundred day moving average is $2.35. D-Wave Quantum has a 1 year low of $0.68 and a 1 year high of $11.41.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on QBTS. Roth Mkm increased their price objective 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. Craig Hallum raised their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. B. Riley lifted their price objective on D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Benchmark increased their target price on D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $5.63.

Insider Activity at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the completion of the sale, the insider now owns 1,000,000 shares of the company’s stock, valued at $4,210,000. The trade was a 89.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 10,081,459 shares of company stock worth $45,337,894 over the last quarter. Company insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in D-Wave Quantum by 0.9% in the third quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after acquiring an additional 17,225 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of D-Wave Quantum in the 2nd quarter worth $45,000. SG Americas Securities LLC acquired a new stake in shares of D-Wave Quantum in the 3rd quarter worth $42,000. Bogart Wealth LLC purchased a new position in D-Wave Quantum during the 3rd quarter worth $49,000. Finally, Rhumbline Advisers acquired a new position in D-Wave Quantum during the 2nd quarter valued at about $93,000. 42.47% of the stock is owned by institutional investors.

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.