D-Wave Quantum (NYSE:QBTS) Trading Down 3.1% – Here’s Why

D-Wave Quantum Inc. (NYSE:QBTS) was down 3.1% during trading on Thursday . The company traded as low as $28.65 and last traded at $29.2670. Approximately 38,524,405 shares traded hands during trading, a decline of 6% from the average daily volume of 40,993,156 shares. The stock had previously closed at $30.20.

Trending Headlines about D-Wave Quantum

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

• Positive Sentiment: Announced acquisition of Quantum Circuits for $550 million (cash + stock), intended to combine assets and accelerate delivery of commercial quantum systems in 2026 — a tangible use of D?Wave’s large cash balance and a clear growth/scale signal to the market. Read More.
• Positive Sentiment: Wedbush and other firms have voiced enthusiasm for the deal and for D?Wave’s positioning; Wedbush called Quantum Circuits a “formidable ally,” reinforcing the strategic rationale for the acquisition. Read More.
• Positive Sentiment: Analyst support remains strong — Rosenblatt reaffirmed a “buy” and set a $40 target, and Wedbush initiated Outperform with a $35 target — these ratings may sustain investor interest and buying on dips. Read More.
• Positive Sentiment: Technical and commercial progress: on?chip cryogenic qubit control and the Advantage2 platform, plus CES demonstrations and government/customer wins, strengthen the case that D?Wave is making concrete product advances. Read More.
• Neutral Sentiment: MarketBeat / year?in?review highlights strong 2025 execution (partnerships, bookings, $836M+ cash) but underscores that the stock is speculative — useful context for longer?term investors weighing risk/reward. Read More.
• Neutral Sentiment: Multiple analyst reviews and valuation pieces are surfacing as the stock has rallied — expect volatility as the market digests upgraded price targets versus fundamentals. Read More.
• Negative Sentiment: Valuation and profitability remain key risks: very high price?to?sales and unprofitable margins mean the stock is priced for significant future execution; any delays or weaker revenue mix could trigger further downside. Read More.
• Negative Sentiment: Broader skepticism about quantum timelines: some commentators warn commercial usefulness may be many years away, implying adoption and scalable revenues could lag expectations. That narrative likely contributed to selling pressure today. Read More.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QBTS. Cantor Fitzgerald upped their price objective on D-Wave Quantum from $20.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group boosted their price target on shares of D-Wave Quantum from $20.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Monday, December 29th. Williams Trading set a $35.00 price objective on shares of D-Wave Quantum in a research note on Monday, November 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of D-Wave Quantum in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.67.

D-Wave Quantum Stock Down 3.1%

The business’s 50 day simple moving average is $26.65 and its 200 day simple moving average is $23.38. The company has a market capitalization of $10.25 billion, a PE ratio of -21.68 and a beta of 1.57. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05.

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

Insider Activity

In related news, CFO John M. Markovich sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $22.94, for a total transaction of $4,588,000.00. Following the completion of the sale, the chief financial officer directly owned 1,482,874 shares in the company, valued at approximately $34,017,129.56. This trade represents a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Alan E. Baratz sold 806,288 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the transaction, the chief executive officer directly owned 2,801,265 shares in the company, valued at $80,872,520.55. The trade was a 22.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,342,087 shares of company stock worth $66,073,024. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently made changes to their positions in QBTS. Vanguard Group Inc. raised 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 valued at $950,220,000 after acquiring an additional 11,218,255 shares in the last quarter. UBS Group AG increased its stake in shares of D-Wave Quantum by 541.6% during the 3rd quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after purchasing an additional 10,205,427 shares during the last quarter. State Street Corp raised its holdings in shares of D-Wave Quantum by 41.3% during the 2nd quarter. State Street Corp now owns 6,648,395 shares of the company’s stock valued at $97,333,000 after purchasing an additional 1,941,762 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of D-Wave Quantum by 41.6% in the 2nd quarter. Geode Capital Management LLC now owns 6,411,558 shares of the company’s stock valued at $93,877,000 after purchasing an additional 1,883,109 shares during the last quarter. Finally, Marex Group plc bought a new stake in D-Wave Quantum in the second quarter worth $80,070,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

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.