D-Wave Quantum (NYSE:QBTS) Shares Down 6.8% – Here’s What Happened

D-Wave Quantum Inc. (NYSE:QBTS)’s share price dropped 6.8% during trading on Thursday . The stock traded as low as $22.47 and last traded at $23.2640. Approximately 32,907,037 shares were traded during 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on QBTS shares. Williams Trading set a $35.00 target price on D-Wave Quantum in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of D-Wave Quantum in a research note on Monday, December 29th. Cantor Fitzgerald raised their target price on D-Wave Quantum from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Canaccord Genuity Group set a $43.00 price target on D-Wave Quantum in a research report on Thursday. Finally, Roth Mkm set a $40.00 price objective on D-Wave Quantum in a report on Thursday, November 6th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.21.

D-Wave Quantum Stock Down 6.8%

The company has a market cap of $8.15 billion, a P/E ratio of -17.23 and a beta of 1.57. The stock has a 50-day moving average of $26.37 and a two-hundred day moving average of $24.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $3.74 million for 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 firm’s revenue for the quarter was up 105.6% compared to the same quarter last year. On average, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, Director Kirstjen Nielsen sold 7,000 shares of D-Wave Quantum stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total value of $158,340.00. Following the transaction, the director directly owned 112,673 shares of the company’s stock, valued at $2,548,663.26. The trade was a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $24.28, for a total value of $242,800.00. Following the completion of the sale, the director owned 37,778 shares of the company’s stock, valued at $917,249.84. The trade was a 20.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,346,916 shares of company stock valued at $65,591,314. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On D-Wave Quantum

Several institutional investors have recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new position in shares of D-Wave Quantum in the third quarter valued at about $30,000. Financial Consulate Inc. purchased a new position in D-Wave Quantum during the 3rd quarter valued at about $31,000. Valley National Advisers Inc. lifted its holdings in D-Wave Quantum by 222.2% in the 4th quarter. Valley National Advisers Inc. now owns 1,595 shares of the company’s stock worth $41,000 after buying an additional 1,100 shares during the period. Kelleher Financial Advisors purchased a new position in shares of D-Wave Quantum during the third quarter valued at approximately $40,000. Finally, Larson Financial Group LLC increased its stake in shares of D-Wave Quantum by 1,754.0% during the third quarter. Larson Financial Group LLC now owns 1,854 shares of the company’s stock valued at $46,000 after buying an additional 1,754 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.