Most Active Stocks in Pre-Market on December 5, 2025: NVO, NIO, QBTS, SMR, BBAI, IONQ

Written by Emily J. Thompson, Senior Investment Analyst

QBTS+5.34%

NIO+2.14%

ION+1.05%

Source: NASDAQ.COM

Updated: Dec 05 2025

0mins

Source: NASDAQ.COM

NASDAQ 100 Pre-Market Indicator: The NASDAQ 100 Pre-Market Indicator is down 0.41 to 25,581.29, with a total pre-market volume of 91,889,714 shares traded.
Most Active Stocks: Novo Nordisk A/S (NVO) is up 0.83 at $48.82, NIO Inc. (NIO) is up 0.17 at $5.18, and D-Wave Quantum Inc. (QBTS) is up 0.32 at $29.05, with significant trading volumes for each.
Earnings Forecasts: D-Wave Quantum Inc. has had four upward revisions for its earnings forecast for the fiscal quarter ending December 2025, with a consensus EPS forecast of $-0.05.
Stock Recommendations: IonQ, Inc. (IONQ) and D-Wave Quantum Inc. (QBTS) are both in the "buy range" according to current mean recommendations, while BigBear.ai, Inc. (BBAI) is trading close to its target price.

QBTS

$27.43+Infinity%1D

Analyst Views on QBTS

Wall Street analysts forecast QBTS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QBTS is 40.67 USD with a low forecast of 35.00 USD and a high forecast of 48.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

13 Analyst Rating

13 Buy

0 Hold

0 Sell

Strong Buy

Current: 26.040

Low

35.00

Averages

40.67

High

48.00

Current: 26.040

Low

35.00

Averages

40.67

High

48.00

Rosenblatt

Buy

maintain

$40 -> $43

2026-01-09

Reason

Rosenblatt

Price Target

$40 -> $43

AI Analysis

2026-01-09

maintain

Buy

Reason

Rosenblatt raised the firm's price target on D-Wave Quantum to $43 from $40 and keeps a Buy rating on the shares. The company executed a "one-two punch" with a $550M acquisition and technical breakthrough, the analyst tells investors in a research note. The firm believes D-Wave "significantly strengthened" its long-term position with demonstrating on-chip cryogenic control. The Quantum Circuits deal secures "superior" error correction capabilities, adds Rosenblatt.

Wedbush

Outperform

initiated

$35

2025-12-17

Reason

Wedbush

Price Target

$35

2025-12-17

initiated

Outperform

Reason

Wedbush initiated coverage of D-Wave Quantum with an Outperform rating and $35 price target. While still in its infancy, the firm sees broad commercial adoption as being the next major catalyst for the industry and for D-Wave in particular since its annealing systems are ready for commercial use today. The combination of D-Wave's large addressable market and significant real-world benefits from optimization that can be applied across many industries and verticals, coupled with expected energy efficiencies, make D-Wave Quantum a compelling investment, Wedbush argues.

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Jefferies

NULL -> Buy

initiated

$45

2025-12-16

Reason

Jefferies

Price Target

$45

2025-12-16

initiated

NULL -> Buy

Reason

Jefferies initiated coverage of D-Wave Quantum with a Buy rating and $45 price target. The company is positioned to benefit from ecosystem tailwinds that are lifting sentiment and usage across quantum architectures, the analyst tells investors in a research note. The firm says that with Advantage2 commercially available via Leap, these catalysts translate into customer education, bigger experimentation budgets, and pilots that feed the annealing funnel.

Mizuho

Outperform

initiated

$46

2025-12-11

Reason

Mizuho

Price Target

$46

2025-12-11

initiated

Outperform

Reason

Mizuho initiated coverage of D-Wave Quantum with an Outperform rating and $46 price target. The firm sees the company "driving a dual track" to annealing and gate model with potential for acquisitions. D-Wave is a "dominant" quantum annealing player in the near-term emerging optimization market, the analyst tells investors in a research note.

About QBTS

D-Wave Quantum Inc. is a quantum computing company, which is engaged in the development and delivery of quantum computing systems, software, and services. The Company builds and delivers systems, cloud services, application development tools, and professional services to support the end-to-end quantum computing journey for enterprises and developers. The Company's products include Cloud Platform, Systems, Professional Services, and others. Under its Cloud Platform, the Leap quantum cloud service delivers immediate, real-time access to its quantum computers and hybrid solvers services. Under its Systems, the Advantage quantum system is a quantum computer designed for business. It also offers quantum applications to a range of customers, including resource scheduling, factory scheduling, industrial construction design, drug discovery, and others. It offers solutions across workforce scheduling, production scheduling, vehicle routing, resource optimization, and cargo loading.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.