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

D-Wave Quantum Inc. (NYSE:QBTS) was the recipient of unusually large options trading activity on Friday. Traders acquired 135,380 call options on the company. This is an increase of approximately 90% compared to the average volume of 71,392 call options.

D-Wave Quantum Trading Up 47.4 %

Shares of NYSE QBTS opened at $10.19 on Friday. The firm’s 50-day moving average price is $6.07 and its 200-day moving average price is $3.88. D-Wave Quantum has a 1-year low of $0.75 and a 1-year high of $11.41. The firm has a market capitalization of $2.74 billion, a P/E ratio of -24.25 and a beta of 1.12.

Insiders Place Their Bets

In related news, CEO Alan E. Baratz sold 8,372 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the sale, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the sale, the insider now directly owns 30,000,000 shares in the company, valued at approximately $122,100,000. This represents a 19.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,071,206 shares of company stock valued at $53,438,181. 7.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors have recently made changes to their positions in QBTS. Ameriflex Group Inc. bought a new stake in shares of D-Wave Quantum during the fourth quarter worth about $205,000. Fourth Dimension Wealth LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter worth about $26,000. Voloridge Investment Management LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter worth about $2,063,000. Squarepoint Ops LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter worth about $1,989,000. Finally, Tidal Investments LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter worth about $104,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Analyst Ratings Changes

QBTS has been the topic of several recent analyst reports. B. Riley boosted their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday. Craig Hallum boosted their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $8.50 target price on shares of D-Wave Quantum in a report on Friday. Finally, Roth Mkm boosted their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $8.42.

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.