D-Wave Quantum (NYSE:QBTS) Trading Up 7.6% – What’s Next?

D-Wave Quantum Inc. (NYSE:QBTS) shares rose 7.6% during trading on Friday . The company traded as high as $27.06 and last traded at $26.78. Approximately 31,678,929 shares traded hands during trading, a decline of 48% from the average daily volume of 60,586,898 shares. The stock had previously closed at $24.89.

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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Jefferies Financial Group initiated coverage on shares of D-Wave Quantum in a report on Tuesday. They issued a “buy” rating and a $45.00 price target on the stock. Cantor Fitzgerald raised their price target on shares of D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Rosenblatt Securities lifted their price objective on shares of D-Wave Quantum from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 7th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, D-Wave Quantum presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.13.

D-Wave Quantum Price Performance

The firm has a fifty day moving average of $28.77 and a two-hundred day moving average of $22.22. The stock has a market capitalization of $9.38 billion, a P/E ratio of -19.84 and a beta of 1.57. 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, beating 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 business had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. The company’s revenue for the quarter was up 105.6% compared to the same quarter last year. On average, analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at D-Wave Quantum

In other news, CFO John M. Markovich sold 200,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $22.94, for a total value of $4,588,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,482,874 shares of the company’s stock, valued at approximately $34,017,129.56. The trade was a 11.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alan E. Baratz sold 806,288 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total value of $23,277,534.56. Following the sale, the chief executive officer owned 2,801,265 shares of the company’s stock, valued at $80,872,520.55. This trade represents a 22.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over 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 corporate insiders.

Hedge Funds Weigh In On D-Wave Quantum

A number of large investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of D-Wave Quantum by 40.7% in the 3rd quarter. Allworth Financial LP now owns 10,362 shares of the company’s stock valued at $256,000 after buying an additional 2,999 shares in the last quarter. Swiss Life Asset Management Ltd bought a new position in shares of D-Wave Quantum during the 3rd quarter worth approximately $345,000. Strategic Advocates LLC lifted its position in D-Wave Quantum by 6.5% during the third quarter. Strategic Advocates LLC now owns 33,715 shares of the company’s stock valued at $833,000 after acquiring an additional 2,050 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in D-Wave Quantum in the third quarter valued at approximately $814,000. Finally, WBI Investments LLC acquired a new stake in D-Wave Quantum in the third quarter valued at approximately $844,000. 42.47% of the stock is currently owned by 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.