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

On December 11, 2024, D-Wave Quantum Inc. (NYSE:QBTS) experienced a significant spike in call options trading activity, with traders purchasing a total of 40,054 call options. This surge represents an increase of approximately 507% compared to the normal trading volume of about 6,596 call options.

Institutional Investors Impacting D-Wave Quantum

Recent activity from institutional investors also highlights growing interest in D-Wave Quantum. Notably, State Street Corp increased its ownership by 0.9% in the third quarter, bringing its total shares to 2,020,977, which are now valued at $1,986,000 after acquiring an additional 17,225 shares. Similarly, Baader Bank Aktiengesellschaft established a new stake in D-Wave Quantum worth around $28,000 in the second quarter. Instrumental Wealth LLC significantly expanded its position by 85.9%, acquiring 25,067 additional shares to reach a total of 54,240 shares valued at $62,000. Other firms like Thoroughbred Financial Services LLC and SG Americas Securities LLC also made new investments, contributing to the 42.47% of shares held by hedge funds and institutional investors.

D-Wave Quantum's Stock Performance Overview

As of Wednesday, shares of D-Wave Quantum opened at $4.68. Over the past year, the stock has fluctuated between a low of $0.68 and a high of $5.38. The company's market capitalization stands at $1.05 billion, with a price-to-earnings (PE) ratio of -11.67 and a beta of 1.77, indicating its volatility compared to the market. The stock's fifty-day moving average is $1.71, with a two-hundred-day moving average of $1.29, providing insight into its recent performance trends.

Recent Analyst Ratings for D-Wave Quantum

D-Wave Quantum has been the focus of multiple research reports in recent months. Roth Mkm adjusted their price target for the stock downward from $3.00 to $2.00 while maintaining a "buy" rating in their August 13 report. B. Riley, conversely, raised their price target from $3.75 to $4.50 on November 25, while reiterating a "buy" rating. Additionally, Needham & Company LLC reaffirmed a "buy" rating with a price objective of $2.25 on November 15. Overall, six equity analysts have rated D-Wave Quantum with a positive outlook, leading to an average rating of "Buy" and a target price of $2.88, based on MarketBeat.com data.

About D-Wave Quantum Inc.

D-Wave Quantum Inc. specializes in the development and delivery of quantum computing systems, software, and services globally. The company’s offerings include Advantage, a fifth-generation quantum computer, Ocean, which is a suite of open-source Python tools, and Leap, a cloud-based service providing real-time access to quantum computing resources.

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