D-Wave Quantum (NASDAQ:QBTS) Stock Falls 5.3% Following Analyst Downgrade

D-Wave Quantum Inc. (NASDAQ:QBTS)’s stock price traded down 5.3% on Monday after B. Riley Financial lowered their price target on the stock from $40.00 to $27.00. B. Riley Financial currently has a buy rating on the stock. D-Wave Quantum traded as low as $10.02 and last traded at $10.09. 11,484,440 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 25,611,928 shares. The stock had previously closed at $10.65.

QBTS has been the topic of several other research reports. Wall Street Zen raised shares of D-Wave Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $43.00 price objective on shares of D-Wave Quantum in a research report on Friday, August 7th. Zacks Research cut D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Benchmark began coverage on D-Wave Quantum in a research note on Monday, July 27th. They set a “buy” rating and a $30.00 target price for the company. Finally, Weiss Ratings upgraded D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 28th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.40.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: B. Riley maintained a Buy rating while lowering its price target from $40 to $27. Although the reduction signals more cautious expectations, the new target still implies substantial upside from recent trading levels. B. Riley price target report
• Neutral Sentiment: A comparison of D-Wave Quantum and Rigetti Computing highlights D-Wave’s focus on commercial quantum annealing and its expansion into government-related business, but it does not announce a new contract, financial result, or material change to the company’s outlook. D-Wave Quantum versus Rigetti comparison
• Negative Sentiment: Several law firms reminded investors of a December 15, 2026 deadline to seek lead-plaintiff status in a securities class action covering purchases made from February 26 through August 25, 2026. The complaints allege that D-Wave overstated growth and operational momentum before reported revenue failed to meet expectations. The allegations have not been proven, but the repeated announcements increase reputational, legal, and potential financial risks for QBTS. Glancy securities lawsuit announcement Rosen securities lawsuit announcement

Hedge Funds Weigh In On D-Wave Quantum

Several hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC boosted its holdings in D-Wave Quantum by 9.2% during the 2nd quarter. CoreCap Advisors LLC now owns 6,115 shares of the company’s stock valued at $147,000 after acquiring an additional 515 shares during the period. GAMMA Investing LLC increased its stake in D-Wave Quantum by 21.7% during the third quarter. GAMMA Investing LLC now owns 3,922 shares of the company’s stock worth $65,000 after purchasing an additional 698 shares during the period. Private Advisor Group LLC increased its stake in D-Wave Quantum by 2.4% during the first quarter. Private Advisor Group LLC now owns 33,341 shares of the company’s stock worth $481,000 after purchasing an additional 781 shares during the period. Fiduciary Financial Advisors purchased a new stake in D-Wave Quantum during the second quarter worth about $25,000. Finally, Strengthening Families & Communities LLC lifted its position in shares of D-Wave Quantum by 72.6% during the third quarter. Strengthening Families & Communities LLC now owns 2,473 shares of the company’s stock worth $41,000 after purchasing an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Price Performance

The firm has a market cap of $3.73 billion, a price-to-earnings ratio of -14.21 and a beta of 2.35. The company has a quick ratio of 20.42, a current ratio of 20.55 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $15.45 and its 200-day moving average price is $19.38.

D-Wave Quantum (NASDAQ:QBTS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The business had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $4.03 million. During the same period in the previous year, the business posted ($0.08) EPS. The company’s revenue for the quarter was down 0.6 compared to the same quarter last year. On average, equities research analysts forecast that D-Wave Quantum Inc. will post -0.46 EPS for the current year.

About D-Wave Quantum

D-Wave Quantum Inc (NASDAQ: QBTS) is a quantum computing company that develops and provides quantum computing systems, software, and related services. The company focuses on both quantum annealing and gate-model quantum computing, with the goal of helping organizations address complex optimization, artificial intelligence, materials science, cybersecurity, and other computational challenges.

Its product portfolio includes quantum computing systems, hybrid quantum-classical solutions, and the Leap quantum cloud service, which gives customers access to D-Wave systems through the cloud.