Investors Purchase High Volume of Call Options on D-Wave Quantum (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) was the recipient of some unusual options trading activity on Monday. Traders acquired 3,242 call options on the company. This represents an increase of 116% compared to the typical daily volume of 1,501 call options.

Analysts Set New Price Targets

QBTS has been the topic of several research analyst reports. B. Riley initiated coverage on shares of D-Wave Quantum in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock. Westpark Capital restated a “buy” rating and set a $3.00 target price on shares of D-Wave Quantum in a research report on Friday, August 9th. Benchmark decreased their price objective on shares of D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Needham & Company LLC lowered their price objective on shares of D-Wave Quantum from $2.50 to $2.25 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Roth Mkm lowered their price objective on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, D-Wave Quantum presently has a consensus rating of “Buy” and an average target price of $2.63.

D-Wave Quantum Trading Up 1.9 %

NYSE:QBTS opened at $1.63 on Tuesday. The firm has a market cap of $328.33 million, a price-to-earnings ratio of -3.53 and a beta of 0.96. The company’s 50-day moving average is $1.02 and its two-hundred day moving average is $1.11. D-Wave Quantum has a 12-month low of $0.68 and a 12-month high of $2.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft purchased a new position in shares of D-Wave Quantum during the 2nd quarter worth about $28,000. Delta Investment Management LLC acquired a new stake in D-Wave Quantum in the first quarter valued at approximately $36,000. SG Americas Securities LLC acquired a new stake in D-Wave Quantum in the third quarter valued at approximately $42,000. Thoroughbred Financial Services LLC acquired a new stake in shares of D-Wave Quantum during the second quarter worth approximately $45,000. Finally, Bogart Wealth LLC acquired a new stake in shares of D-Wave Quantum during the third quarter worth approximately $49,000. 42.47% of the stock is currently owned by hedge funds and other 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.