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

D-Wave Quantum Inc. (NYSE:QBTS) saw unusually large options trading on Thursday. Stock investors acquired 245,715 call options on the stock. This is an increase of 180% compared to the typical daily volume of 87,810 call options.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $11.10 on Friday. The company has a market cap of $3.23 billion, a PE ratio of -26.43 and a beta of 0.90. The firm’s 50 day moving average price is $7.41 and its 200-day moving average price is $5.78. D-Wave Quantum has a 52-week low of $0.75 and a 52-week high of $11.95.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $15.00 million for 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.

Wall Street Analysts Forecast Growth

QBTS has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $8.00 price objective 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 research note on Friday, March 14th. Roth Mkm upped their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Needham & Company LLC lifted their price objective on D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a research note on Friday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, D-Wave Quantum has a consensus rating of “Buy” and an average price target of $9.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QBTS. Vanguard Group Inc. boosted its stake in shares of D-Wave Quantum by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company’s stock worth $85,766,000 after buying an additional 4,166,721 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of D-Wave Quantum by 80.1% in the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company’s stock worth $38,518,000 after purchasing an additional 2,253,741 shares during the period. UNICOM Systems Inc. boosted its holdings in shares of D-Wave Quantum by 91.9% in the first quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company’s stock worth $35,171,000 after buying an additional 2,216,000 shares during the last quarter. Geode Capital Management LLC grew its position in D-Wave Quantum by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company’s stock valued at $24,992,000 after buying an additional 418,468 shares during the period. Finally, Bank of America Corp DE increased its holdings in D-Wave Quantum by 4,912.4% during the fourth quarter. Bank of America Corp DE now owns 2,548,099 shares of the company’s stock valued at $21,404,000 after buying an additional 2,497,263 shares during the last quarter. Institutional investors own 42.47% of the company’s stock.

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.