Traders Acquire Significant Volume of D-Wave Quantum Call Options (NYSE:QBTS)

On December 11th, 2024, D-Wave Quantum Inc. (NYSE:QBTS) experienced remarkable options trading activity. On this day, investors purchased 40,054 call options on D-Wave Quantum stock, marking an increase of about 507% from the average volume of 6,596 call options typically traded.

Insights from Institutional Investors

Several hedge funds have recently made adjustments to their positions in D-Wave Quantum. For instance, State Street Corp increased its holdings by 0.9% in the third quarter, now owning 2,020,977 shares valued at approximately $1,986,000 after adding 17,225 shares in the last quarter. Additionally, Baader Bank Aktiengesellschaft established a new stake in the company during the second quarter, valued at around $28,000. Instrumental Wealth LLC also expanded its investment by 85.9%, acquiring an additional 25,067 shares to now hold 54,240 shares valued at $62,000. Thoroughbred Financial Services LLC made a new investment worth $45,000 in D-Wave Quantum in the same quarter, while SG Americas Securities LLC took a new stake valued at $42,000 in the third quarter. Overall, hedge funds and other institutional investors control about 42.47% of the stock.

D-Wave Quantum Stock Overview

The shares of QBTS opened at $4.68 on the trading floor on Wednesday. The stock has shown significant volatility over the past year, with a low of $0.68 and a high of $5.38. D-Wave Quantum boasts a market capitalization of $1.05 billion, a price-to-earnings ratio of -11.67, and a beta of 1.77, indicating higher volatility compared to the market. The stock's fifty-day moving average stands at $1.71 while the two-hundred-day moving average is $1.29.

Recent Changes in Analyst Ratings

In recent times, D-Wave Quantum has been the subject of various research reports. Roth MKM downgraded its price target from $3.00 to $2.00 while still maintaining a "buy" rating for the stock on August 13th. Conversely, B. Riley increased their target price from $3.75 to $4.50 and issued a “buy” rating on November 25th. Furthermore, Needham & Company LLC confirmed a “buy” rating on November 15th with a price target of $2.25. Currently, six equity research analysts have rated the stock as a buy, and according to MarketBeat.com, D-Wave Quantum holds an average rating of "Buy" with an average target price of $2.88.

D-Wave Quantum Company Profile

D-Wave Quantum Inc. focuses on the development and delivery of quantum computing systems, software, and services worldwide. The company's offerings include the Advantage, a fifth-generation quantum computer, the Ocean suite of open-source Python tools, and Leap, a cloud-based service that provides real-time access to a live quantum computer among other resources.

Traders, Options, Finance