D-Wave Quantum (NYSE:QBTS) Trading Down 5% – Here’s What Happened

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price was down 5% on Thursday . The company traded as low as $21.64 and last traded at $21.8290. Approximately 20,458,904 shares changed hands during trading, a decline of 37% from the average daily volume of 32,354,061 shares. The stock had previously closed at $22.98.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: Analysts and market commentary are highlighting D-Wave’s improving bookings growth and its position as a more “proven” quantum name after renewed controversy around Microsoft’s Majorana claims shifted attention toward companies with clearer commercial progress. Article Title
• Positive Sentiment: D-Wave announced a first-of-its-kind error-aware quantum simulator as part of its gate-model roadmap, with developer access expected in September 2026, which could support longer-term product credibility and developer adoption. Article Title
• Positive Sentiment: Brokerage coverage currently points to a “Moderate Buy” consensus on QBTS, suggesting Wall Street still sees upside potential despite the stock’s recent volatility. Article Title
• Neutral Sentiment: Several articles discuss broader quantum-computing sector rotation and investor interest, which may be helping sentiment around QBTS but do not directly change D-Wave’s fundamentals. Article Title
• Negative Sentiment: Despite the positive developments, a recent market reaction article says QBTS “just crashed,” reflecting that traders are still pricing in high speculation and sharp swings in quantum stocks. Article Title
• Negative Sentiment: Investors remain cautious because the stock’s move appears driven more by sentiment and sector headlines than by near-term earnings strength, keeping volatility elevated. Article Title

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QBTS. Stifel Nicolaus set a $35.00 price target on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Mizuho lifted their price target 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. Canaccord Genuity Group reduced their target price on D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings raised D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Finally, B. Riley Financial increased their target price on D-Wave Quantum from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Fourteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

D-Wave Quantum Stock Performance

The company’s 50 day simple moving average is $23.33 and its 200 day simple moving average is $22.32. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. The stock has a market cap of $8.07 billion, a PE ratio of -19.32 and a beta of 2.05.

D-Wave Quantum (NYSE:QBTS) last announced its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $2.86 million for the quarter, compared to the consensus estimate of $4.19 million. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The company’s revenue was down 80.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) EPS. Analysts expect that D-Wave Quantum Inc. will post -0.43 earnings per share for the current year.

Insider Transactions at D-Wave Quantum

In related news, Director John D. Dilullo sold 7,850 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $24.43, for a total value of $191,775.50. Following the transaction, the director directly owned 21,310 shares of the company’s stock, valued at approximately $520,603.30. The trade was a 26.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John M. Markovich sold 328,752 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $27.70, for a total transaction of $9,106,430.40. Following the transaction, the chief financial officer owned 1,442,820 shares of the company’s stock, valued at approximately $39,966,114. The trade was a 18.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,363,842 shares of company stock worth $35,802,656. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its position in D-Wave Quantum by 370.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 96,248 shares of the company’s stock worth $2,378,000 after purchasing an additional 75,807 shares during the period. SG Americas Securities LLC raised its position in shares of D-Wave Quantum by 254.7% in the fourth quarter. SG Americas Securities LLC now owns 2,272,020 shares of the company’s stock valued at $59,413,000 after purchasing an additional 1,631,415 shares during the period. WBI Investments LLC purchased a new stake in shares of D-Wave Quantum during the 3rd quarter valued at approximately $844,000. Massachusetts Financial Services Co. MA bought a new position in D-Wave Quantum in the 4th quarter worth approximately $1,114,000. Finally, World Investment Advisors grew its stake in D-Wave Quantum by 195.7% in the 4th quarter. World Investment Advisors now owns 41,691 shares of the company’s stock valued at $1,090,000 after buying an additional 27,592 shares in the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

About D-Wave Quantum

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.