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

D-Wave Quantum Inc. (NYSE:QBTS) saw unusually large options trading on Tuesday. Traders purchased 10,239 call options on the stock. This is an increase of 186% compared to the average volume of 3,578 call options.

Analyst Ratings Changes

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

D-Wave Quantum Trading Up 1.5 %

QBTS opened at $2.74 on Thursday. The stock has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.16. The company has a market cap of $613.79 million, a price-to-earnings ratio of -6.52 and a beta of 0.96. D-Wave Quantum has a 12-month low of $0.68 and a 12-month high of $3.77.

Institutional Trading of D-Wave Quantum

Hedge funds and other institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC lifted 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 valued at $4,409,000 after acquiring an additional 839,942 shares during the period. Geode Capital Management LLC increased 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 in the last quarter. Marshall Wace LLP purchased a new position in shares of D-Wave Quantum during the second quarter valued at approximately $265,000. Bank of New York Mellon Corp bought a new stake in shares of D-Wave Quantum in the 2nd quarter worth approximately $251,000. Finally, Vanguard Group Inc. grew its stake in shares of D-Wave Quantum by 17.9% in the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock worth $2,183,000 after buying an additional 162,688 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other 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.