Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Sets New 12-Month Low – What’s Next?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s share price reached a new 52-week low during trading on Monday. The stock traded as low as $2.97 and last traded at $3.00, with a volume of 1,170,672 shares changing hands. The stock had previously closed at $3.04.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on XNDU shares. 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. Royal Bank Of Canada initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, September 28th. They issued an “outperform” rating and a $16.00 price target for the company. Canaccord Genuity Group dropped 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 for the company in a research note on Thursday, August 6th. Canadian Imperial Bank of Commerce assumed 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. Finally, Morgan Stanley set a $3.75 price objective on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares and gave the stock an “equal weight” rating in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 25.53 and a quick ratio of 25.09. The business has a 50 day moving average price of $7.37.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its quarterly earnings data on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share for the quarter. The firm had revenue of $1.51 million during the quarter. Sell-side analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. TD Waterhouse Canada Inc. grew its holdings in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) by 1,113.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,810 shares of the quantum computing company’s stock after buying an additional 17,260 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares were worth $84,000 at the end of the most recent quarter.

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 approach uses light-based quantum systems, which are designed to support scalable, networked quantum computing applications.

The company develops quantum hardware, cloud-accessible computing services and software tools for researchers, developers and businesses. Its technology portfolio includes photonic quantum processors and PennyLane, an open-source software library that enables users to build and run quantum machine-learning and quantum-computing applications across different hardware platforms.

Founded in 2016, Xanadu serves a global community of users through its software and cloud offerings, with applications spanning quantum research, machine learning, optimization and scientific computing.