Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $33.00.

XNDU has been the topic of several analyst reports. Weiss Ratings downgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 26th. Canadian Imperial Bank of Commerce began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th.

Institutional Trading of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

An institutional investor recently bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC acquired a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,737 shares of the quantum computing company’s stock, valued at approximately $324,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 21.6%

Shares of NASDAQ:XNDU opened at $5.78 on Wednesday. The business has a fifty day simple moving average of $9.99. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 52 week low of $5.32 and a 52 week high of $42.44. The company has a quick ratio of 25.09, a current ratio of 25.53 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.76 billion, a PE ratio of -13.76 and a beta of 14.82.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its quarterly earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) EPS for the quarter. The company had revenue of $1.51 million during the quarter. On average, analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 earnings per share for the current year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

Xanadu Quantum Technologies Limited is a Canadian quantum computing company focused on developing photonic quantum computers and the software needed to program and operate them. Its technology uses light-based quantum systems and is designed to support practical applications in areas such as materials science, drug discovery, optimization and financial modeling.

The company develops quantum hardware, including its Aurora and Borealis systems, and provides access to quantum computing through cloud-based services.