D-Wave Quantum (NYSE:QBTS) Trading 4.8% Higher – Here’s What Happened

D-Wave Quantum Inc. (NYSE:QBTS) was up 4.8% during mid-day trading on Thursday . The stock traded as high as $25.84 and last traded at $24.94. Approximately 26,895,077 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 60,705,113 shares. The stock had previously closed at $23.80.

Trending Headlines about D-Wave Quantum

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: High-profile investor interest — reports say billionaire Ken Griffin bought D‑Wave, and a Fool piece highlights Wall Street bullishness that projects large upside (while noting valuation risk). This amplifies retail and institutional attention. Read More.
• Positive Sentiment: Jefferies initiated coverage with a Buy rating (coverage cited across outlets), supplying fresh institutional endorsement that supports upward momentum. Read More.
• Positive Sentiment: Wedbush initiated coverage with an Outperform and a $35 price target (~30% above current levels), giving the stock a clear analyst-driven upside narrative. Read More.
• Neutral Sentiment: Options and flow are mixed — some pick-up in activity but with no clear directional consensus, suggesting short-term volatility rather than a sustained trend. Read More.
• Neutral Sentiment: Sector commentary questions whether quantum names are due for a rebound; this frames D‑Wave within a broader thematic trade rather than company-specific fundamentals. Read More.
• Negative Sentiment: Insider selling was reported and immediately pressured the stock in intraday trade, a clear near-term negative catalyst that can sap investor confidence. Read More.
• Negative Sentiment: Valuation concerns after D‑Wave’s large 2025 gain (reported ~274% YTD) are being raised in market commentary — analysts and commentary pieces are warning the rally may not be fully justified, increasing the chance of corrections. Read More.

Analysts Set New Price Targets

Several research analysts have issued reports on QBTS shares. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Canaccord Genuity Group upped their price objective on D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Roth Capital set a $40.00 target price on D-Wave Quantum in a research note on Thursday, November 6th. Finally, Evercore ISI initiated coverage on D-Wave Quantum in a report on Wednesday, December 3rd. They issued an “outperform” rating and a $44.00 target price on the stock. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

D-Wave Quantum Price Performance

The company has a market cap of $9.38 billion, a price-to-earnings ratio of -19.84 and a beta of 1.57. The company has a 50-day simple moving average of $28.64 and a 200-day simple moving average of $22.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.D-Wave Quantum’s revenue for the quarter was up 105.6% on a year-over-year basis. As a group, research analysts predict that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Insider Activity at D-Wave Quantum

In related news, Director John D. Dilullo sold 8,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $27.36, for a total value of $218,880.00. Following the completion of the sale, the director owned 27,803 shares in the company, valued at $760,690.08. This trade represents a 22.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Markovich sold 11,562 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $23.89, for a total transaction of $276,216.18. Following the transaction, the chief financial officer owned 1,471,312 shares in the company, valued at $35,149,643.68. The trade was a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,448,375 shares of company stock worth $39,155,482. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after purchasing an additional 11,218,255 shares in the last quarter. UBS Group AG increased its position in shares of D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after buying an additional 10,205,427 shares in the last quarter. Marex Group plc acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth $80,070,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of D-Wave Quantum in the 2nd quarter worth about $45,372,000. Finally, Clear Street Group Inc. purchased a new stake in shares of D-Wave Quantum in the 3rd quarter worth about $75,344,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.