D-Wave Quantum (NASDAQ:QBTS) Stock Price Down 3% – Here’s What Happened

Shares of D-Wave Quantum Inc. (NASDAQ:QBTS) dropped 3% on Wednesday. The stock traded as low as $11.50 and last traded at $11.77. Approximately 13,809,134 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 25,784,371 shares. The stock had previously closed at $12.13.

Key Headlines Impacting D-Wave Quantum

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

• Positive Sentiment: D-Wave signed a non-binding memorandum of understanding with South Korea’s LG CNS to pursue enterprise quantum-optimization use cases and expand adoption in the Asian market. The partnership could support future commercial activity, although the agreement does not guarantee revenue. D-Wave Enters MoU With LG CNS to Drive Quantum Computing Adoption in South Korea
• Positive Sentiment: D-Wave customer Shionogi won first place in the Quality of Life category of Japan’s NEDO Quantum Computing Challenge for drug-discovery research, providing third-party validation of D-Wave’s technology and potential healthcare applications. D-Wave Customer Shionogi Wins First Place in NEDO Quantum Computing Challenge’s Quality of Life Category
• Neutral Sentiment: D-Wave will report third-quarter 2026 results before the market opens on November 10. Investors will be watching bookings, revenue growth, cash usage and losses after the company’s prior quarter missed consensus revenue and EPS estimates. D-Wave Quantum to Report Third Quarter 2026 Financial Results on November 10, 2026
• Neutral Sentiment: Brokerages reportedly have an average price target of $36.27, but that target contrasts with concerns that QBTS may already reflect substantial future growth after its dramatic multiyear rally. D-Wave Quantum Stock Has Average Target Price of $36.27 According to Brokerages
• Negative Sentiment: Multiple law firms publicized a securities class action alleging that D-Wave and certain executives made misleading statements about growth prospects during the February 26–August 25, 2026 class period. Investors have until December 15, 2026 to seek lead-plaintiff status, adding legal and reputational overhang. Pomerantz Law Firm Announces the Filing of a Class Action Against D-Wave Quantum Inc.
• Negative Sentiment: Analysts cited sector-wide selling and higher-rate caution as immediate reasons for the stock’s decline. Separate valuation commentary argues that QBTS looks fully priced relative to its financial performance, including continuing losses and heavy investment needs. Why Is D-Wave Quantum Stock Falling on Wednesday?

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QBTS. Zacks Research cut D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group set a $35.00 target price on shares of D-Wave Quantum in a report on Thursday, August 6th. Weiss Ratings upgraded shares of D-Wave Quantum from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 28th. Wedbush began coverage on D-Wave Quantum in a research note on Monday, August 3rd. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Benchmark initiated coverage on D-Wave Quantum in a report on Monday, July 27th. They set a “buy” rating and a $30.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, D-Wave Quantum presently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

D-Wave Quantum Price Performance

The company has a 50 day moving average price of $15.92 and a 200 day moving average price of $19.64. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -16.58 and a beta of 2.18. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (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 firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $4.03 million. During the same period last year, the company earned ($0.08) EPS. The company’s revenue was down 0.6 compared to the same quarter last year. As a group, equities research analysts forecast that D-Wave Quantum Inc. will post -0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QBTS. BlackRock Inc. acquired a new stake in shares of D-Wave Quantum during the second quarter worth $795,206,000. Bank of America Corp DE bought a new position in D-Wave Quantum during the second quarter worth about $104,183,000. Bank of New York Mellon Corp acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth about $54,951,000. Wellington Management Group LLP raised its position in shares of D-Wave Quantum by 372.2% in the 2nd quarter. Wellington Management Group LLP now owns 1,820,070 shares of the company’s stock valued at $43,663,000 after acquiring an additional 1,434,657 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of D-Wave Quantum by 52.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,339,788 shares of the company’s stock valued at $56,132,000 after acquiring an additional 806,835 shares during the period. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Company Profile

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.