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

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s share price hit 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 changing hands. The stock had previously closed at $2.62.

Wall Street Analyst Weigh In

Several equities research analysts have commented on XNDU shares. Morgan Stanley began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, October 15th. They issued an “equal weight” rating and a $3.75 target price on the stock. Royal Bank Of Canada assumed coverage on shares of 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 objective on the stock. Canaccord Genuity Group lowered 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 on the stock in a report on Thursday, August 6th. Weiss Ratings raised shares of 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. Finally, Canadian Imperial Bank of Commerce started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 target price for the company. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

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 company has a 50 day moving average price of $5.65 and a 200 day moving average price of $11.40. The company has a market capitalization of $717.96 million, a P/E ratio of -5.62 and a beta of 15.30.

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

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lockheed Martin Investment Management Co. bought a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter valued at $10,575,000. Tidal Investments LLC bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the second quarter worth $324,000. TD Waterhouse Canada Inc. increased its position 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 worth $84,000 after purchasing an additional 17,260 shares during the period. Finally, Apollon Wealth Management LLC bought a new position in shares of 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 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.