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

D-Wave Quantum Inc. (NYSE:QBTS) saw some unusual options trading on Wednesday. Stock investors bought 100,953 call options on the company. This represents an increase of 80% compared to the typical daily volume of 55,949 call options.

D-Wave Quantum Price Performance

QBTS stock traded up $0.74 during trading on Wednesday, reaching $6.78. 71,870,661 shares of the company were exchanged, compared to its average volume of 85,740,117. D-Wave Quantum has a twelve month low of $0.75 and a twelve month high of $11.41. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -16.15 and a beta of 1.10. The company has a 50-day moving average of $6.65 and a two-hundred day moving average of $3.25.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Roth Mkm boosted their price target on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Benchmark reissued a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a report on Tuesday, January 14th. B. Riley lifted their price target on shares of D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Craig Hallum boosted their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.71.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was 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 in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John M. Markovich sold 5,582 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,152,665 shares of company stock worth $92,096,075 over the last three months. Corporate insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QBTS. Fourth Dimension Wealth LLC acquired a new position in D-Wave Quantum in the 4th quarter worth about $26,000. PNC Financial Services Group Inc. bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $38,000. Heritage Wealth Advisors bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $67,000. Kingsview Wealth Management LLC acquired a new stake in D-Wave Quantum during the 4th quarter worth approximately $84,000. Finally, Summit Investment Advisors Inc. grew its holdings in D-Wave Quantum by 20.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock worth $87,000 after acquiring an additional 1,766 shares during the last quarter. 42.47% of the stock is currently 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.