D-Wave Quantum (NASDAQ:QBTS) Shares Down 10.1% – Here’s What Happened

Shares of D-Wave Quantum Inc. (NASDAQ:QBTS) fell 10.1% on Wednesday. The company traded as low as $11.95 and last traded at $12.03. 23,780,223 shares were traded during mid-day trading, a decline of 10% from the average session volume of 26,397,203 shares. The stock had previously closed at $13.38.

Trending Headlines about D-Wave Quantum

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

• Positive Sentiment: D-Wave announced that its Advantage2 annealing quantum computer has arrived in Lombardy, Italy, for installation at Villa Saporiti in Como. The system is funded by Swiss Quantum Technology SA and represents Italy’s first annealing quantum computer, supporting D-Wave’s international expansion and customer adoption. D-Wave Delivers Italy’s First Annealing Quantum Computer
• Positive Sentiment: D-Wave and SkyWater Technology extended their multi-year manufacturing agreement, securing continued access to specialized semiconductor fabrication for D-Wave’s superconducting quantum processors. The partnership may improve manufacturing continuity and efficiency. What Does D-Wave Quantum Multi-Year Manufacturing Deal Change?
• Neutral Sentiment: Quantum-computing stocks rebounded after a sector-wide selloff tied to concerns about equity issuance and dilution. The broader recovery may help QBTS sentiment, but the industry remains highly volatile. Quantum Computing Stocks Rebound After Dilution Scare
• Negative Sentiment: Several law firms announced or promoted a securities class action against D-Wave and certain executives covering investors who acquired shares between February 26 and August 25, 2026. The complaints allege that the company overstated its business and financial prospects; the allegations have not been proven. The lead-plaintiff deadline is December 15, 2026. Gainey McKenna Class Action Announcement Robbins LLP Investor Alert
• Negative Sentiment: Analysts and commentators are questioning whether QBTS’s valuation is justified after an approximately 13-fold three-year stock advance. That concern is particularly significant for a company with substantial losses and limited revenue, increasing the risk of profit-taking and further volatility. D-Wave Valuation Comes Under Scrutiny

Analysts Set New Price Targets

Several research firms have commented on QBTS. Wedbush started coverage on shares of D-Wave Quantum in a research note on Monday, August 3rd. They set an “outperform” rating and a $40.00 price objective for the company. BMO Capital Markets initiated coverage on D-Wave Quantum in a report on Thursday, August 20th. They issued an “outperform” rating and a $35.00 price target on the stock. Zacks Research downgraded shares of D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Jefferies Financial Group set a $40.00 price target on D-Wave Quantum in a report on Friday, August 7th. Finally, Wall Street Zen upgraded D-Wave Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

D-Wave Quantum Price Performance

The company has a market cap of $4.38 billion, a PE ratio of -16.60 and a beta of 2.18. The firm has a 50 day simple moving average of $17.26 and a 200-day simple moving average of $19.70. The company has a quick ratio of 20.42, a current ratio of 20.55 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $4.03 million. D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%. The firm’s quarterly revenue was down 0.6 on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, research analysts predict that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity at D-Wave Quantum

In related news, VP Sophie Ames sold 3,070 shares of D-Wave Quantum stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $16.95, for a total value of $52,036.50. Following the completion of the sale, the vice president directly owned 589,009 shares in the company, valued at $9,983,702.55. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QBTS. Fiduciary Financial Advisors acquired a new stake in D-Wave Quantum during the 2nd quarter valued at approximately $25,000. Parallel Advisors LLC increased its stake in shares of D-Wave Quantum by 545.5% in the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock valued at $26,000 after purchasing an additional 1,511 shares in the last quarter. Adirondack Trust Co. boosted its position in D-Wave Quantum by 267.3% during the third quarter. Adirondack Trust Co. now owns 1,649 shares of the company’s stock worth $27,000 after purchasing an additional 1,200 shares in the last quarter. PeakShares LLC purchased a new stake in shares of D-Wave Quantum in the first quarter valued at approximately $29,000. Finally, Kelleher Financial Advisors acquired a new stake in D-Wave Quantum in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

D-Wave Quantum Inc is a quantum-computing company that develops and delivers quantum systems, software and cloud-based services for commercial, government and research customers. The company focuses on quantum annealing, an approach designed to address complex optimization problems, and is also developing gate-model quantum-computing capabilities.

Its offerings include D-Wave quantum computers, the Leap quantum cloud service, and the Ocean software development kit. Through these products, customers can access quantum hardware, build and test applications, and combine quantum processing with classical computing through hybrid solvers.