Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Trading 8.4% Higher – Time to Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) rose 8.4% during trading on Tuesday . The company traded as high as $12.01 and last traded at $11.95. Approximately 796,152 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 5,272,605 shares. The stock had previously closed at $11.02.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on XNDU shares. Canaccord Genuity Group assumed coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, April 23rd. They set a “buy” rating and a $45.00 price objective for the company. 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 report on Saturday, June 20th. Zacks Research upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. Finally, Northland Securities started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, April 20th. They set an “outperform” rating and a $43.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has an average rating of “Hold” and a consensus price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Up 7.3%

The company has a market cap of $3.53 billion and a P/E ratio of -42.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.35 and a quick ratio of 14.05. The company’s 50 day moving average is $16.98.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its quarterly earnings data on Thursday, May 14th. The quantum computing company reported ($0.28) EPS for the quarter. The company had revenue of $2.83 million for the quarter, compared to analyst estimates of $0.70 million. Analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 EPS for the current year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

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.