Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) – What Are Analysts Thinking About This Stock?

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) have received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.75.

XNDU has been the subject of several recent research reports. Morgan Stanley started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, October 15th. They set an “equal weight” rating and a $3.75 target price for the company. Royal Bank Of Canada started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, September 28th. They issued an “outperform” rating and a $16.00 price objective on the stock. 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 for the company in a research report on Thursday, August 6th. Canadian Imperial Bank of Commerce initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They issued a “sector outperform” rating and a $22.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

Shares of XNDU stock opened at $2.88 on Thursday. The stock’s 50-day moving average is $5.19 and its two-hundred day moving average is $11.22. The firm has a market cap of $876.15 million, a price-to-earnings ratio of -6.86 and a beta of 15.30. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 1 year low of $2.34 and a 1 year high of $42.44. The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53.

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

Institutional investors have recently added to or reduced their stakes in the business. Lockheed Martin Investment Management Co. purchased a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter valued at approximately $10,575,000. Jefferies Financial Group Inc. acquired a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the third quarter worth $826,000. Tidal Investments LLC purchased a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the second quarter worth $324,000. TD Waterhouse Canada Inc. raised its position in 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 worth $84,000 after acquiring an additional 17,260 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter worth $57,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that develops quantum computers based on photonics, using particles of light to process information. Its work includes building quantum hardware and developing software intended to help researchers and businesses create and run quantum applications.

The company also develops PennyLane, an open-source software library for quantum computing and quantum machine learning. Xanadu has made quantum computing tools and hardware available through cloud-based services, supporting users beyond its home base in Toronto, Canada.

Xanadu was founded in 2016 by physicist Christian Weedbrook, who serves as the company’s chief executive officer.