D-Wave Quantum (NASDAQ:QBTS) Trading Up 7% – Here’s What Happened

D-Wave Quantum Inc. (NASDAQ:QBTS)’s share price shot up 7% during trading on Friday . The stock traded as high as $20.92 and last traded at $20.76. Approximately 16,202,244 shares were traded during mid-day trading, a decline of 46% from the average session volume of 29,840,520 shares. The stock had previously closed at $19.41.

D-Wave Quantum News Summary

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

• Positive Sentiment: Bookings and customer adoption improved substantially. D-Wave reported a roughly 1,120% year-over-year increase in first-half bookings, a $40.7 million backlog and growing exposure to commercial customers. Management said production annealing usage is expanding, supporting the company’s long-term growth narrative. D-Wave CEO says QBTS ready to lead the quantum market after a 1,100% surge in first-half bookings
• Positive Sentiment: Analyst confidence is providing support. Rosenblatt Securities reaffirmed its “Buy” rating and set a $43 price target, implying substantial upside from current levels. Broader coverage also identifies quantum computing as a potential beneficiary of increasing AI investment and government support for next-generation computing. Beyond NVIDIA and GPUs: The Next AI and Quantum Winners Leading 2026
• Neutral Sentiment: The investment case remains dependent on execution. D-Wave is developing a staged path toward commercially relevant gate-model quantum computing, while management expects a disproportionate share of 2026 revenue to arrive in the fourth quarter. That outlook could produce significant upside if adoption accelerates, but also leaves results sensitive to timing and customer deployments. QBTS Q2 Earnings Call Focuses on Adoption and Quantum Roadmaps
• Negative Sentiment: Second-quarter results missed expectations. Revenue was $3.08 million versus approximately $4.03 million expected, while the loss was $0.10 per share compared with an anticipated $0.08 loss. Revenue also declined slightly year over year, and the company continues to report substantial net losses. These results initially pressured the shares despite the bookings growth. QBTS Stock Falls on Wider-Than-Expected Q2 Loss and Revenue Miss

Analysts Set New Price Targets

QBTS has been the topic of a number of research analyst reports. Benchmark initiated coverage on D-Wave Quantum in a research note on Monday, July 27th. They issued a “buy” rating and a $30.00 price target on the stock. Mizuho upped their price objective on shares of D-Wave Quantum from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Rosenblatt Securities reiterated a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a report on Friday. B. Riley Financial raised their target price on shares of D-Wave Quantum from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of D-Wave Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, D-Wave Quantum presently has a consensus rating of “Moderate Buy” and an average price target of $36.36.

D-Wave Quantum Stock Up 7.0%

The firm has a market capitalization of $7.68 billion, a PE ratio of -29.24 and a beta of 2.15. The company has a current ratio of 21.41, a quick ratio of 21.31 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $21.74 and a two-hundred day moving average of $20.59.

D-Wave Quantum (NASDAQ:QBTS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $4.03 million. D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 28.19%. D-Wave Quantum’s revenue was down 0.6 on a year-over-year basis. During the same period last year, the firm posted ($0.08) EPS. On average, equities research analysts forecast that D-Wave Quantum Inc. will post -0.42 EPS for the current year.

Insider Activity

In other D-Wave Quantum news, CEO Alan E. Baratz sold 687,627 shares of D-Wave Quantum stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the transaction, the chief executive officer directly owned 3,299,771 shares of the company’s stock, valued at $86,223,016.23. The trade was a 17.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO John M. Markovich sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.71, for a total transaction of $5,142,000.00. Following the sale, the chief financial officer owned 1,142,820 shares of the company’s stock, valued at approximately $29,381,902.20. This represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 1,363,842 shares of company stock worth $35,789,148. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On D-Wave Quantum

A number of hedge funds have recently made changes to their positions in QBTS. CoreCap Advisors LLC boosted its position in D-Wave Quantum by 9.2% during the 2nd quarter. CoreCap Advisors LLC now owns 6,115 shares of the company’s stock worth $147,000 after purchasing an additional 515 shares during the period. Sigma Planning Corp raised its position in D-Wave Quantum by 3.6% in the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock valued at $431,000 after purchasing an additional 560 shares during the period. AlphaStar Capital Management LLC lifted its stake in shares of D-Wave Quantum by 2.2% during the fourth quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company’s stock worth $708,000 after purchasing an additional 592 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in shares of D-Wave Quantum by 0.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 131,852 shares of the company’s stock worth $3,447,000 after purchasing an additional 602 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of D-Wave Quantum by 0.7% in the fourth quarter. Arizona State Retirement System now owns 92,037 shares of the company’s stock worth $2,407,000 after buying an additional 613 shares during the period. Hedge funds and other institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Company Profile

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.