D-Wave Quantum (NYSE:QBTS) Trading Down 6.8% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price dropped 6.8% on Thursday . The stock traded as low as $22.47 and last traded at $23.2640. Approximately 32,907,037 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 39,492,504 shares. The stock had previously closed at $24.97.

Trending Headlines about D-Wave Quantum

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

• Positive Sentiment: Multiple analysts reaffirmed “buy” ratings and high price targets (lifting sentiment). Needham set a $48 target, Rosenblatt set $43, and Roth MKM reiterated a buy — these notes support upside expectations. Analyst Coverage
• Positive Sentiment: Large customer contracts and commercial traction: a reported $20M purchase order from Florida Atlantic University and a separate $10M deal with a Fortune 100 company are concrete revenue-driving wins that validate D‑Wave’s commercial push. Florida Atlantic $20M order
• Positive Sentiment: Corporate HQ relocation and R&D expansion to Boca Raton (landed via CP Group lease) signals commitment to U.S. scale-up and could reduce execution risk for enterprise sales and partnerships. HQ Relocation Press Release
• Positive Sentiment: Technology progress: D‑Wave announced advancements in both annealing and gate-model systems (supporting its dual‑platform narrative), which helps differentiate the company in the quantum market. Tech Advancements
• Neutral Sentiment: Industry visibility: D‑Wave hosted Qubits 2026 and drew engagement from ecosystem players (e.g., SuperQ), boosting long‑term partnership potential but not an immediate earnings driver. Qubits Conference Note
• Negative Sentiment: Fundamentals/valuation concerns: the company remains unprofitable (very negative net margin and ROE), and analysts still model a negative EPS for the year. Those fundamentals can prompt selling despite positive headlines.
• Negative Sentiment: Short‑term price action likely reflects profit‑taking and volatility after recent strength (high beta and wide 12‑month range). Even with bullish research and new contracts, traders often lock gains, which can push the stock down intraday.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on QBTS shares. Benchmark reaffirmed a “buy” rating and issued a $35.00 target price on shares of D-Wave Quantum in a research report on Friday, January 23rd. Mizuho assumed coverage on shares of D-Wave Quantum in a report on Thursday, December 11th. They issued an “outperform” rating and a $46.00 price objective for the company. Evercore ISI assumed coverage on D-Wave Quantum in a research report on Wednesday, December 3rd. They set an “outperform” rating and a $44.00 price objective on the stock. Wedbush assumed coverage on D-Wave Quantum in a research report on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of D-Wave Quantum in a research note on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.21.

D-Wave Quantum Price Performance

The company has a market capitalization of $8.15 billion, a PE ratio of -17.23 and a beta of 1.57. The firm has a 50-day moving average of $26.37 and a 200 day moving average of $24.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49.

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

Insider Activity

In other news, CFO John M. Markovich sold 9,179 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $28.06, for a total value of $257,562.74. Following the completion of the sale, the chief financial officer directly owned 1,462,133 shares in the company, valued at $41,027,451.98. This represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kirstjen Nielsen sold 7,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total value of $158,340.00. Following the completion of the sale, the director owned 112,673 shares of the company’s stock, valued at approximately $2,548,663.26. The trade was a 5.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,346,916 shares of company stock worth $65,591,314. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in D-Wave Quantum by 125.7% in the second quarter. Osaic Holdings Inc. now owns 247,004 shares of the company’s stock valued at $3,616,000 after acquiring an additional 137,549 shares during the last quarter. UNICOM Systems Inc. grew its stake in D-Wave Quantum by 12.1% during the 3rd quarter. UNICOM Systems Inc. now owns 3,121,346 shares of the company’s stock worth $77,128,000 after buying an additional 337,838 shares during the last quarter. IFP Advisors Inc increased its position in D-Wave Quantum by 123.8% during the second quarter. IFP Advisors Inc now owns 14,814 shares of the company’s stock worth $217,000 after buying an additional 8,194 shares during the period. Csenge Advisory Group lifted its stake in D-Wave Quantum by 99.1% in the third quarter. Csenge Advisory Group now owns 35,886 shares of the company’s stock valued at $887,000 after buying an additional 17,860 shares during the last quarter. Finally, World Investment Advisors purchased a new stake in D-Wave Quantum in the second quarter valued at approximately $190,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

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.