Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Trading Down 5.4% – Here’s Why

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) dropped 5.4% on Tuesday . The stock traded as low as $10.14 and last traded at $10.18. 216,873 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 3,627,333 shares. The stock had previously closed at $10.76.

Analysts Set New Price Targets

A number of brokerages have issued reports on XNDU. Canadian Imperial Bank of Commerce initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Tuesday, July 28th. They issued a “sector outperform” rating and a $22.00 price objective for the company. Canaccord Genuity Group cut their price target 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 report on Thursday, August 6th. Weiss Ratings lowered shares of 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. Finally, Wall Street Zen upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Up 0.1%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53. The stock has a market capitalization of $2.97 billion, a PE ratio of -23.67 and a beta of 14.84. The company’s 50-day simple moving average is $10.84.

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

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Xanadu Quantum Technologies Limited is a quantum computing company headquartered in Toronto, Canada, that develops photonics-based quantum hardware and software. The company focuses on building programmable photonic quantum processors that use light rather than superconducting qubits, and it provides cloud-based access to its systems for researchers and commercial users. Xanadu is publicly listed under the ticker XNDU on both Nasdaq and the Toronto Stock Exchange.

Its technology stack combines integrated photonic hardware, control systems, and software designed to support quantum algorithms and applications in areas such as optimization, simulation, and quantum machine learning.