D-Wave Quantum (NYSE:QBTS) Shares Down 5% - Here's What Happened

Key Points

• D-Wave Quantum shares fell 5% on Thursday, trading as low as $21.64 amid lighter-than-average volume. The decline came even as recent commentary highlighted renewed investor interest in quantum-computing names.
• News flow around the company was mixed but included a positive catalyst: D-Wave unveiled a first-of-its-kind error-aware quantum simulator tied to its gate-model roadmap, with developer access expected in September 2026.
• Wall Street remains generally constructive, with analysts assigning a Moderate Buy consensus and an average price target of $36.80. However, the stock remains highly volatile, and recent insider selling plus weak quarterly revenue underscore ongoing caution.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s share price was down 5% on Thursday . The stock traded as low as $21.64 and last traded at $21.8290. Approximately 20,458,904 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 32,354,061 shares. The stock had previously closed at $22.98.

D-Wave Quantum News Roundup

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: Analysts and market commentary are highlighting D-Wave’s improving bookings growth and its position as a more “proven” quantum name after renewed controversy around Microsoft’s Majorana claims shifted attention toward companies with clearer commercial progress. Article Title
• Positive Sentiment: D-Wave announced a first-of-its-kind error-aware quantum simulator as part of its gate-model roadmap, with developer access expected in September 2026, which could support longer-term product credibility and developer adoption. Article Title
• Positive Sentiment: Brokerage coverage currently points to a “Moderate Buy” consensus on QBTS, suggesting Wall Street still sees upside potential despite the stock’s recent volatility. Article Title
• Neutral Sentiment: Several articles discuss broader quantum-computing sector rotation and investor interest, which may be helping sentiment around QBTS but do not directly change D-Wave’s fundamentals. Article Title
• Negative Sentiment: Despite the positive developments, a recent market reaction article says QBTS “just crashed,” reflecting that traders are still pricing in high speculation and sharp swings in quantum stocks. Article Title
• Negative Sentiment: Investors remain cautious because the stock’s move appears driven more by sentiment and sector headlines than by near-term earnings strength, keeping volatility elevated. Article Title

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on QBTS shares. Jefferies Financial Group restated a "buy" rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. Rosenblatt Securities reissued a "buy" rating and set a $43.00 price target on shares of D-Wave Quantum in a report on Thursday, June 11th. Needham & Company LLC restated a "buy" rating and issued a $40.00 price target on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Weiss Ratings raised D-Wave Quantum from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Finally, Stifel Nicolaus set a $35.00 price objective on D-Wave Quantum in a research report on Tuesday, June 2nd. Fourteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.80.

D-Wave Quantum Price Performance

The company's fifty day moving average price is $23.33 and its 200 day moving average price is $22.32. The company has a market capitalization of $8.07 billion, a P/E ratio of -19.32 and a beta of 2.05. The company has a quick ratio of 21.31, a current ratio of 21.41 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $2.86 million during the quarter, compared to the consensus estimate of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The firm's quarterly revenue was down 80.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. As a group, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.43 EPS for the current year.

Insider Transactions at D-Wave Quantum

In other news, CFO John M. Markovich sold 328,752 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $27.70, for a total transaction of $9,106,430.40. Following the completion of the sale, the chief financial officer directly owned 1,442,820 shares in the company, valued at approximately $39,966,114. This represents a 18.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sophie C. Ames sold 23,025 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $18.98, for a total value of $437,014.50. Following the sale, the vice president directly owned 596,803 shares in the company, valued at approximately $11,327,320.94. This trade represents a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,363,842 shares of company stock worth $35,802,656. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC boosted its position in shares of D-Wave Quantum by 388.0% during the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company's stock worth $26,000 after acquiring an additional 776 shares in the last quarter. Parallel Advisors LLC grew its position in D-Wave Quantum by 545.5% during the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company's stock worth $26,000 after acquiring an additional 1,511 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in D-Wave Quantum in the 4th quarter valued at approximately $28,000. PeakShares LLC acquired a new position in shares of D-Wave Quantum during the first quarter worth $29,000. Finally, EverSource Wealth Advisors LLC increased its holdings in D-Wave Quantum by 267.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company's stock valued at $30,000 after purchasing an additional 838 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

About D-Wave Quantum

D-Wave Quantum Inc NYSE: QBTS develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company's product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.

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