D-Wave Quantum (NYSE:QBTS) Sees Unusually-High Trading Volume – Here’s Why

D-Wave Quantum Inc. (NYSE:QBTS) saw unusually-strong trading volume on Thursday . Approximately 15,842,585 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 11,811,614 shares.The stock last traded at $8.54 and had previously closed at $7.95.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Roth Mkm raised their price target on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Benchmark lifted their target price on D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 20th. B. Riley upped their price target on D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC reiterated a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Finally, Craig Hallum boosted their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $5.63.

D-Wave Quantum Stock Up 15.7 %

The stock has a fifty day moving average of $3.06 and a two-hundred day moving average of $1.73. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -21.90 and a beta of 1.79.

Insider Transactions at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $6.68, for a total value of $6,680,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 10,081,459 shares of company stock valued at $45,337,894 in the last ninety days. 7.22% of the stock is currently owned by company insiders.

Institutional Trading of D-Wave Quantum

A number of institutional investors have recently bought and sold shares of QBTS. Barclays PLC raised its position in D-Wave Quantum by 298.3% during the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after acquiring an additional 89,894 shares during the last quarter. Geode Capital Management LLC raised its position in shares of D-Wave Quantum by 33.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after purchasing an additional 645,039 shares during the last quarter. State Street Corp lifted its stake in D-Wave Quantum by 0.9% in the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after buying an additional 17,225 shares in the last quarter. Penserra Capital Management LLC grew its holdings in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after buying an additional 839,942 shares during the last quarter. Finally, Bogart Wealth LLC acquired a new stake in D-Wave Quantum during the 3rd quarter valued at $49,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

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.