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

D-Wave Quantum Inc. (NYSE:QBTS) was the target of some unusual options trading on Friday. Traders purchased 136,899 call options on the stock. This is an increase of 20% compared to the average volume of 113,728 call options.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Roth Mkm upped their price target on D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC increased their target price on D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. B. Riley increased their target price on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Benchmark increased their target price on D-Wave Quantum from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, D-Wave Quantum presently has an average rating of “Buy” and an average target price of $10.17.

Insider Activity at D-Wave Quantum

In related news, CEO Alan E. Baratz sold 845,813 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $17.00, for a total transaction of $14,378,821.00. Following the sale, the chief executive officer now directly owns 2,866,412 shares of the company’s stock, valued at approximately $48,729,004. This represents a 22.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roger Biscay sold 15,675 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $16.58, for a total value of $259,891.50. Following the sale, the director now directly owns 203,147 shares in the company, valued at approximately $3,368,177.26. This represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,358,009 shares of company stock valued at $23,282,578. Corporate insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. bLong Financial LLC boosted its stake in D-Wave Quantum by 5.2% during the first quarter. bLong Financial LLC now owns 24,092 shares of the company’s stock valued at $183,000 after buying an additional 1,200 shares in the last quarter. Baird Financial Group Inc. boosted its stake in D-Wave Quantum by 12.0% during the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock valued at $92,000 after buying an additional 1,300 shares in the last quarter. Victory Capital Management Inc. boosted its stake in D-Wave Quantum by 5.8% during the first quarter. Victory Capital Management Inc. now owns 31,097 shares of the company’s stock valued at $236,000 after buying an additional 1,698 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in D-Wave Quantum by 20.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock valued at $87,000 after buying an additional 1,766 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of D-Wave Quantum by 5.1% during the fourth quarter. Invesco Ltd. now owns 42,619 shares of the company’s stock valued at $358,000 after purchasing an additional 2,051 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

NYSE:QBTS opened at $18.67 on Friday. D-Wave Quantum has a 1 year low of $0.75 and a 1 year high of $19.77. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -44.45 and a beta of 1.49. The business has a fifty day moving average of $10.56 and a 200-day moving average of $7.79.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. On average, equities research analysts predict that D-Wave Quantum will post -0.41 EPS for the current year.

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.