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

D-Wave Quantum Inc. (NYSE:QBTS) was the recipient of unusually large options trading activity on Friday. Investors purchased 135,380 call options on the company. This represents an increase of approximately 90% compared to the average volume of 71,392 call options.

Insiders Place Their Bets

In other news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the sale, the insider now owns 30,000,000 shares of the company’s stock, valued at approximately $122,100,000. This represents a 19.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John M. Markovich sold 5,582 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the transaction, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,071,206 shares of company stock worth $53,438,181 in the last quarter. Corporate insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Ameriflex Group Inc. bought a new position in shares of D-Wave Quantum during the fourth quarter valued at about $205,000. Fourth Dimension Wealth LLC bought a new position in shares of D-Wave Quantum during the fourth quarter valued at about $26,000. Voloridge Investment Management LLC bought a new position in shares of D-Wave Quantum during the fourth quarter valued at about $2,063,000. Squarepoint Ops LLC bought a new position in shares of D-Wave Quantum during the fourth quarter valued at about $1,989,000. Finally, Tidal Investments LLC bought a new position in shares of D-Wave Quantum during the fourth quarter valued at about $104,000. 42.47% of the stock is owned by institutional investors.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock traded up $2.84 during trading hours on Friday, reaching $9.75. The company’s stock had a trading volume of 226,245,492 shares, compared to its average volume of 27,794,610. D-Wave Quantum has a one year low of $0.75 and a one year high of $11.41. The company has a market capitalization of $2.63 billion, a P/E ratio of -23.01 and a beta of 1.12. The stock’s fifty day simple moving average is $6.05 and its two-hundred day simple moving average is $3.80.

Analysts Set New Price Targets

QBTS has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $8.50 price objective on shares of D-Wave Quantum in a research report on Friday. Craig Hallum increased their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. B. Riley increased their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a report on Friday. Finally, Roth Mkm raised their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $8.42.

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.