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

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) was the recipient of unusually large options trading on Thursday. Traders purchased 245,715 call options on the stock. This is an increase of approximately 180% compared to the average daily volume of 87,810 call options.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QBTS. Roth Mkm raised their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Benchmark reissued a "buy" rating and set a $8.00 price target on shares of D-Wave Quantum in a research report on Friday, March 14th. B. Riley boosted their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Needham & Company LLC lifted their target price on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a report on Friday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum currently has a consensus rating of "Buy" and a consensus target price of $9.17.

D-Wave Quantum Trading Up 6.5 %

NYSE:QBTS traded up $0.68 during trading hours on Friday, reaching $11.10. The company had a trading volume of 161,356,804 shares, compared to its average volume of 36,613,724. The firm's 50 day moving average price is $7.41 and its 200-day moving average price is $5.81. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -26.43 and a beta of 0.90. D-Wave Quantum has a 52 week low of $0.75 and a 52 week high of $11.95.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to analysts' expectations of $10.50 million. On average, analysts forecast that D-Wave Quantum will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC purchased a new position in shares of D-Wave Quantum during the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. bought a new position in shares of D-Wave Quantum in the fourth quarter worth approximately $38,000. Signaturefd LLC increased its stake in shares of D-Wave Quantum by 106.1% in the first quarter. Signaturefd LLC now owns 5,771 shares of the company's stock worth $44,000 after purchasing an additional 2,971 shares in the last quarter. Amalgamated Bank lifted its stake in shares of D-Wave Quantum by 107.8% during the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company's stock valued at $48,000 after buying an additional 3,266 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in D-Wave Quantum by 231.0% in the 1st quarter. IFP Advisors Inc now owns 6,620 shares of the company's stock worth $50,000 after buying an additional 4,620 shares during the period. 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.