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

D-Wave Quantum Inc. (NYSE:QBTS) saw some unusual options trading activity on Friday. Investors acquired 135,380 call options on the company. This represents an increase of approximately 90% compared to the typical volume of 71,392 call options.

D-Wave Quantum Trading Up 47.4 %

NYSE:QBTS opened at $10.19 on Friday. The company has a market cap of $2.74 billion, a PE ratio of -24.25 and a beta of 1.12. D-Wave Quantum has a twelve month low of $0.75 and a twelve month high of $11.41. The company’s 50 day moving average is $6.07 and its two-hundred day moving average is $3.86.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. B. Riley raised their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday. Roth Mkm lifted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price objective on shares of D-Wave Quantum in a research report on Friday. Finally, Craig Hallum lifted their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Buy” and a consensus target price of $8.42.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 2,778,564 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $6.14, for a total transaction of $17,060,382.96. Following the transaction, the insider now owns 37,278,688 shares of the company’s stock, valued at approximately $228,891,144.32. This trade represents a 6.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John M. Markovich sold 5,582 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at $5,610,210.12. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,071,206 shares of company stock worth $53,438,181 in the last 90 days. 7.22% of the stock is owned by corporate insiders.

Institutional Trading of D-Wave Quantum

Several large investors have recently bought and sold shares of the stock. Fourth Dimension Wealth LLC acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $26,000. PNC Financial Services Group Inc. acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $38,000. Heritage Wealth Advisors acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $67,000. Kingsview Wealth Management LLC acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $84,000. Finally, Summit Investment Advisors Inc. lifted its stake 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 valued at $87,000 after acquiring an additional 1,766 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.

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.