Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Sets New 52-Week Low – Time to Sell?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s share price reached a new 52-week low during trading on Thursday. The company traded as low as $2.45 and last traded at $2.49, with a volume of 500,480 shares. The stock had previously closed at $2.62.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on XNDU shares. Royal Bank Of Canada assumed 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 target price for the company. Weiss Ratings raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, October 21st. Canaccord Genuity Group lowered their price target on 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 report on Thursday, August 6th. Canadian Imperial Bank of Commerce began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 price target on the stock. Finally, Morgan Stanley began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, October 15th. They set an “equal weight” rating and a $3.75 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

The firm has a fifty day simple moving average of $5.34 and a 200 day simple moving average of $11.28. The company has a current ratio of 25.53, a quick ratio of 25.09 and a debt-to-equity ratio of 0.10. The stock has a market cap of $812.27 million, a price-to-earnings ratio of -6.36 and a beta of 15.30.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its quarterly earnings data on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share for the quarter. The business had revenue of $1.51 million for the quarter. As a group, sell-side analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Large investors have recently bought and sold shares of the business. Apollon Wealth Management LLC acquired a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter valued at $57,000. TD Waterhouse Canada Inc. increased its stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% in the third quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company’s stock valued at $84,000 after buying an additional 17,260 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the second quarter valued at $324,000. Jefferies Financial Group Inc. bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter valued at about $826,000. Finally, Lockheed Martin Investment Management Co. bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter valued at about $10,575,000.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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.