D-Wave Quantum (NASDAQ:QBTS) Stock Falls 12.8% – Time to Sell?

D-Wave Quantum Inc. (NASDAQ:QBTS) shares dropped 12.8% during mid-day trading on Thursday. The company traded as low as $8.48 and last traded at $9.05. 25,081,541 shares changed hands during trading, a decline of 1% from the average session volume of 25,458,330 shares. The stock had previously closed at $10.38.

More D-Wave Quantum News

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

• Positive Sentiment: QBTS shares moved higher alongside other quantum-computing stocks after IonQ reported a third-quarter beat and raised its 2026 revenue outlook to $505 million–$515 million. The reaction suggests optimism about the sector, rather than a D-Wave-specific financial update. Article: IonQ Surges on Beat and Raised Guidance
• Positive Sentiment: D-Wave says an upgrade to its Stride hybrid solver delivers faster, higher-quality optimization results in benchmark tests. It also introduced an applied quantum optimization learning path intended to help enterprise users adopt the technology—potentially supporting future commercial uptake, though the articles do not report new revenue from the release. Article: D-Wave Quantum Upgraded Its Stride Hybrid Solver
• Neutral Sentiment: An earnings-preview analysis acknowledges D-Wave’s customer base but argues that the optimistic growth case may already be reflected in the stock’s valuation. This is an analyst’s assessment, not a company guidance update. Article: D-Wave Quantum Earnings Preview
• Negative Sentiment: Multiple law firms publicized a securities class action concerning investors who bought D-Wave shares during a February–August 2026 class period. The case and related notices add reputational and legal uncertainty; the allegations have not been established as facts. Article: Investors Have Opportunity to Lead Securities Fraud Lawsuit
• Negative Sentiment: A valuation-focused article highlights the gap between D-Wave’s roughly $3.9 billion market value and $12.4 million in revenue, alongside a reported 60% year-to-date share decline. That reinforces concerns about valuation and the company’s ability to convert its technology into substantial sales. Article: D-Wave Carries a $3.9 Billion Price Tag on $12.4 Million in Revenue

Analyst Ratings Changes

Several research firms recently commented on QBTS. Jefferies Financial Group set a $40.00 price target on shares of D-Wave Quantum in a research note on Friday, August 7th. B. Riley Financial lowered their price objective on shares of D-Wave Quantum from $40.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Weiss Ratings raised shares of D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 28th. Zacks Research downgraded shares of D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, BMO Capital Markets started coverage on shares of D-Wave Quantum in a research report on Thursday, August 20th. They set an “outperform” rating and a $35.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and an average price target of $35.40.

D-Wave Quantum Trading Up 18.0%

The stock’s 50 day moving average is $14.58 and its two-hundred day moving average is $18.91. The company has a market capitalization of $3.95 billion, a PE ratio of -15.04 and a beta of 2.35. The company has a quick ratio of 20.42, a current ratio of 20.55 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%. The business had revenue of $3.08 million for the quarter, compared to the consensus estimate of $4.03 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The firm’s revenue was down 0.6 on a year-over-year basis. As a group, sell-side analysts predict that D-Wave Quantum Inc. will post -0.50 EPS for the current fiscal year.

Hedge Funds Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently modified their holdings of the business. Fiduciary Financial Advisors bought a new position in D-Wave Quantum in the second quarter worth approximately $25,000. Silver Grove Financial Group Inc. boosted its position in D-Wave Quantum by 304.2% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,524 shares of the company’s stock valued at $25,000 after acquiring an additional 1,147 shares in the last quarter. Ancora Advisors LLC bought a new stake in D-Wave Quantum during the 2nd quarter valued at $39,000. Kelleher Financial Advisors bought a new stake in D-Wave Quantum during the 2nd quarter valued at $39,000. Finally, Adirondack Trust Co. increased its holdings in shares of D-Wave Quantum by 267.3% in the 3rd quarter. Adirondack Trust Co. now owns 1,649 shares of the company’s stock valued at $27,000 after acquiring an additional 1,200 shares during the period. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Company Profile

D-Wave Quantum Inc (NASDAQ: QBTS) is a quantum computing company that develops and provides quantum computing systems, software, and related services. The company focuses on both quantum annealing and gate-model quantum computing, with the goal of helping organizations address complex optimization, artificial intelligence, materials science, cybersecurity, and other computational challenges.

Its product portfolio includes quantum computing systems, hybrid quantum-classical solutions, and the Leap quantum cloud service, which gives customers access to D-Wave systems through the cloud.