D-Wave Quantum (NYSE:QBTS) Trading Down 9.1% – What’s Next?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price was down 9.1% during mid-day trading on Thursday . The stock traded as low as $18.98 and last traded at $19.3050. Approximately 29,257,361 shares traded hands during trading, a decline of 4% from the average daily volume of 30,344,416 shares. The stock had previously closed at $21.24.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: Advantage2 commercialization — Coverage highlights D‑Wave scaling optimization use cases, rising revenues and bookings tied to its Advantage2 platform, which supports longer‑term revenue growth expectations. How QBTS Is Capturing Optimization Quantum Computing Opportunity
• Positive Sentiment: Quantum/AI sector momentum — Nvidia’s quantum‑AI initiatives sparked a broad rally earlier in April that lifted investor interest in D‑Wave as a potential beneficiary of quantum‑AI integration and helped drive recent upside. NVIDIA Sparks April Rally in 2 Quantum Stocks
• Neutral Sentiment: Upcoming quarterly results are a near‑term catalyst — D‑Wave will report Q1 FY2026 results before the market opens on May 12, giving investors a discrete event to reassess growth and guidance. D‑Wave to Report Q1 FY2026 Results on May 12
• Neutral Sentiment: Mixed analyst/coverage tone — New coverage from Northland came in at market‑perform with a modest $22 target, while consensus remains a “Moderate Buy” with higher avg. targets — creating mixed near‑term signals. Northland Securities Coverage Initiated
• Negative Sentiment: Profit‑taking and resale overhang — Analysts and market trackers point to post‑rally profit‑taking plus a registered resale block tied to the Quantum Circuits acquisition as adding selling pressure and volatility. Quiver Quantitative price‑movement analysis
• Negative Sentiment: Insider selling noted — A VP sold ~3,070 shares under a pre‑arranged 10b5‑1 plan; small alone but adds to recent insider transactions that can weigh on sentiment. Insider trade disclosure
• Negative Sentiment: Recent earnings miss & revenue shortfall — Last reported quarter missed EPS and revenue estimates, a reminder investors will scrutinize the May report for signs of durable top‑line acceleration. Kalkine review of post‑earnings reaction

Analyst Upgrades and Downgrades

QBTS has been the subject of several recent research reports. TD Cowen assumed coverage on shares of D-Wave Quantum in a report on Thursday, February 12th. They set a “buy” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $43.00 price target on shares of D-Wave Quantum in a research report on Wednesday, January 28th. Benchmark reissued a “buy” rating and set a $35.00 price objective on shares of D-Wave Quantum in a research note on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a research report on Friday, March 27th. Finally, Mizuho reduced their target price on D-Wave Quantum from $46.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, D-Wave Quantum presently has an average rating of “Moderate Buy” and an average target price of $35.53.

D-Wave Quantum Stock Down 9.1%

The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -17.55 and a beta of 1.78. The company has a current ratio of 42.38, a quick ratio of 42.25 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $17.47 and its two-hundred day moving average is $24.21.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The firm had revenue of $2.75 million for the quarter, compared to analyst estimates of $3.74 million. D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The firm’s quarterly revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts predict that D-Wave Quantum Inc. will post -0.35 EPS for the current year.

Insider Activity

In other D-Wave Quantum news, Director John D. Dilullo sold 8,000 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total value of $144,080.00. Following the completion of the sale, the director directly owned 19,803 shares of the company’s stock, valued at approximately $356,652.03. The trade was a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rohit Ghai sold 10,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $17.62, for a total value of $176,200.00. Following the completion of the transaction, the director owned 27,778 shares of the company’s stock, valued at $489,448.36. This trade represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,776 shares of company stock valued at $574,571 over the last quarter. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On D-Wave Quantum

Several large investors have recently added to or reduced their stakes in QBTS. GAMMA Investing LLC grew its holdings in D-Wave Quantum by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock valued at $46,000 after buying an additional 482 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in shares of D-Wave Quantum by 5.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock worth $245,000 after acquiring an additional 500 shares during the period. Huntington National Bank boosted its position in shares of D-Wave Quantum by 17.9% in the third quarter. Huntington National Bank now owns 3,300 shares of the company’s stock worth $82,000 after acquiring an additional 500 shares during the last quarter. Sigma Planning Corp boosted its position in shares of D-Wave Quantum by 3.6% in the fourth quarter. Sigma Planning Corp now owns 16,329 shares of the company’s stock worth $431,000 after acquiring an additional 560 shares during the last quarter. Finally, AlphaStar Capital Management LLC grew its holdings in D-Wave Quantum by 2.2% in the fourth quarter. AlphaStar Capital Management LLC now owns 27,063 shares of the company’s stock valued at $708,000 after purchasing an additional 592 shares during the period. 42.47% of the stock is currently 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.