D-Wave Quantum (NYSE:QBTS) Stock Price Down 7.6% - Here's What Happened

Key Points

• Shares fell 7.6% to about $22.02 on Thursday, with roughly 25.6 million shares traded (about 14% below average) after closing at $23.83 the prior session.
• Near-term bullish catalysts include the company-hosted Qubits Europe 2026 user conference on June 18 and rising analyst interest (average target ~$35.53 and mostly Buy ratings), which has supported speculative buying and sector spillover flows.
• Key risks remain: notable insider selling and institutional rebalancing, plus mixed fundamentals — Q1 missed EPS and revenue and the firm reports deep negative margins, which could reverse momentum if upcoming results disappoint.

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s share price dropped 7.6% on Thursday . The stock traded as low as $21.81 and last traded at $22.0160. Approximately 25,596,018 shares changed hands during trading, a decline of 14% from the average daily volume of 29,596,631 shares. The stock had previously closed at $23.83.

D-Wave Quantum News Summary

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

• Positive Sentiment: Company-hosted Europe user conference (Qubits Europe 2026) announced for June 18 in London — positioned to showcase customer use cases, roadmap updates across annealing, gate-model and hybrid software; seen as a clear near-term catalyst that sparked speculative buying. D-Wave Quantum (QBTS) jumps 9.1% as investors react to Europe event news
• Positive Sentiment: Analyst and market interest has been rising — inclusion on “best stocks for May” lists and multiple buy/outperform ratings with elevated price targets support bullish sentiment and give traders conviction ahead of earnings. Best Stocks for May: QBTS, RGTI With 75% Target Upside Before Earnings D-Wave Given Average Recommendation of "Moderate Buy"
• Neutral Sentiment: Sector-wide rallies in quantum names (IonQ, Rigetti and peers) are driving spillover flows; positive earnings or cloud-adoption beats at peers could lift D-Wave, but volatile revenue trends in the group keep outcomes uncertain. Which Quantum Computing Stock Has Dominated in 2026 Rigetti Pre-Q1 Earnings Analysis Why IONQ Stock Owns The Quantum Runway
• Negative Sentiment: Significant insider selling and notable institutional rebalancing noted in market data — large insider sales can weigh on sentiment and provide supply into rallies. D-Wave Quantum (QBTS) jumps 9.1% - insider activity & institutional moves
• Negative Sentiment: Fundamentals remain mixed — prior Q1 results missed EPS and revenue estimates and the company still reports deep negative margins; that raises risk if the upcoming quarter disappoints and could reverse short-term momentum. (See company filings and recent earnings release for details.)

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on QBTS shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $43.00 target price on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Northland Securities initiated coverage on D-Wave Quantum in a research note on Monday, April 20th. They set a "market perform" rating and a $22.00 price target on the stock. Needham & Company LLC decreased their price objective on D-Wave Quantum from $48.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Weiss Ratings cut shares of D-Wave Quantum from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 29th. Finally, TD Cowen began coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They set a "buy" rating on the stock. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, D-Wave Quantum presently has an average rating of "Moderate Buy" and an average target price of $35.53.

D-Wave Quantum Price Performance

The company has a quick ratio of 42.25, a current ratio of 42.38 and a debt-to-equity ratio of 0.04. The firm has a market cap of $8.14 billion, a PE ratio of -20.01 and a beta of 1.95. The stock has a 50 day moving average price of $17.62 and a two-hundred day moving average price of $23.09.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The company had revenue of $2.75 million during the quarter, compared to analysts' expectations of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The firm's quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities analysts expect that D-Wave Quantum Inc. will post -0.44 earnings per share for the current year.

Insider Activity at D-Wave Quantum

In other news, VP Sophie C. Ames sold 3,070 shares of the business's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $21.35, for a total transaction of $65,544.50. Following the sale, the vice president directly owned 643,678 shares of the company's stock, valued at $13,742,525.30. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Markovich sold 10,706 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $17.63, for a total value of $188,746.78. Following the completion of the transaction, the chief financial officer directly owned 1,451,427 shares in the company, valued at approximately $25,588,658.01. The trade was a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 31,776 shares of company stock valued at $574,571. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Root Financial Partners LLC boosted its position in D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company's stock valued at $26,000 after buying an additional 776 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in D-Wave Quantum during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in D-Wave Quantum by 267.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company's stock valued at $30,000 after acquiring an additional 838 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $31,000. Finally, Ancora Advisors LLC purchased a new stake in shares of D-Wave Quantum in the 3rd quarter valued at $30,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

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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