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

On December 11, 2024, D-Wave Quantum Inc. (NYSE:QBTS) witnessed a significant spike in options trading activity, with traders purchasing 40,054 call options. This figure marks an astonishing increase of about 507% compared to the average volume of 6,596 call options typically traded.

Institutional Investors and Their Moves

Recently, various hedge funds have made adjustments to their stakes in D-Wave Quantum. For instance, State Street Corp increased its ownership by 0.9% during the third quarter, bringing its total holdings to 2,020,977 shares, valued at $1,986,000 after acquiring an additional 17,225 shares. Similarly, Baader Bank Aktiengesellschaft bought a new stake worth approximately $28,000 in the second quarter, while Instrumental Wealth LLC raised its position by 85.9%, acquiring an extra 25,067 shares for a total of 54,240 shares valued at $62,000. Other notable investors include Thoroughbred Financial Services LLC, which established a new position worth $45,000, and SG Americas Securities LLC, which also purchased shares valued at $42,000 during the third quarter. Currently, approximately 42.47% of D-Wave Quantum's stock is held by hedge funds and other institutional investors.

Performance Overview of D-Wave Quantum Stock

On the trading day in question, QBTS stock opened at $4.68. Over the past year, shares have fluctuated between a low of $0.68 and a high of $5.38. The company's market capitalization is $1.05 billion, with a PE ratio of -11.67 and a beta of 1.77. For further analysis, the stock has a fifty-day moving average of $1.71 and a two-hundred-day moving average of $1.29.

Analyst Reviews and Ratings

D-Wave Quantum has attracted attention from several analysts. A report from Roth Mkm adjusted their price target from $3.00 to $2.00 while maintaining a “buy” rating. Additionally, B. Riley raised their price target from $3.75 to $4.50, also issuing a “buy” recommendation. Needham & Company LLC reiterated a