Stock Traders Purchase High Volume of D-Wave Quantum Call Options (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) saw some unusual options trading on Thursday. Investors purchased 201,274 call options on the company. This is an increase of approximately 65% compared to the typical daily volume of 121,763 call options.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Benchmark reaffirmed a "buy" rating and set a $20.00 price objective (up previously from $14.00) on shares of D-Wave Quantum in a research report on Tuesday, June 17th. Williams Trading set a $20.00 price objective on D-Wave Quantum in a research report on Wednesday, June 18th. Needham & Company LLC upped their price objective on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. B. Riley reaffirmed a "buy" rating and set a $20.00 price objective (up previously from $13.00) on shares of D-Wave Quantum in a research report on Wednesday, June 18th. Finally, Roth Capital reaffirmed a "buy" rating on shares of D-Wave Quantum in a research report on Friday, June 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $14.38.

Insider Buying and Selling

In other D-Wave Quantum news, Director Roger Biscay sold 106,626 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.85, for a total value of $1,796,648.10. Following the sale, the director owned 14,260 shares of the company's stock, valued at $240,281. The trade was a 88.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John D. Dilullo sold 15,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $16.40, for a total value of $246,000.00. Following the completion of the sale, the director directly owned 44,295 shares in the company, valued at approximately $726,438. The trade was a 25.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,636,796 shares of company stock valued at $27,872,091 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On D-Wave Quantum

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of D-Wave Quantum by 40.9% during the fourth quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company's stock worth $1,845,000 after buying an additional 63,799 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of D-Wave Quantum by 40.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 321,284 shares of the company's stock worth $2,699,000 after buying an additional 91,721 shares during the period. Victory Capital Management Inc. boosted its stake in shares of D-Wave Quantum by 55.1% during the fourth quarter. Victory Capital Management Inc. now owns 29,399 shares of the company's stock worth $247,000 after buying an additional 10,444 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of D-Wave Quantum during the fourth quarter worth about $2,087,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of D-Wave Quantum during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 42.47% of the company's stock.

D-Wave Quantum Stock Down 5.6%

NYSE:QBTS traded down $1.08 during trading hours on Friday, hitting $18.16. The company's stock had a trading volume of 16,525,621 shares, compared to its average volume of 71,512,336. The stock has a market capitalization of $5.31 billion, a P/E ratio of -30.20 and a beta of 1.40. The stock has a fifty day moving average of $15.68 and a 200-day moving average of $9.88. The company has a current ratio of 20.73, a quick ratio of 20.61 and a debt-to-equity ratio of 0.15. D-Wave Quantum has a 52-week low of $0.75 and a 52-week high of $19.76.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. D-Wave Quantum had a negative net margin of 617.84% and a negative return on equity of 227.95%. The company had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. On average, equities analysts forecast that D-Wave Quantum will post -0.41 earnings per share for the current year.

About D-Wave Quantum

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.