Royal Bank Of Canada Upgrades Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) to Moderate Buy

Key Points

• Royal Bank of Canada upgraded Xanadu Quantum Technologies (NASDAQ: XNDU) to “Moderate Buy.” MarketBeat reports an average analyst rating of “Moderate Buy” and an average price target of $28.75, though recommendations remain mixed.
• XNDU opened at $4.58, near its 52-week low of $4.56, versus a 52-week high of $42.44. The stock has a market capitalization of $1.39 billion and a highly volatile beta of 14.82.
• Xanadu reported a quarterly loss of $0.14 per share on $1.51 million in revenue, while analysts expect a full-year loss of $0.54 per share. Tidal Investments also initiated a position of 26,737 shares valued at about $324,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada to a "moderate buy" rating in a note issued to investors on Monday, Zacks reports.

Other analysts have also recently issued research reports about the company. Canaccord Genuity Group reduced their price target on 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. Weiss Ratings cut 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. 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. Finally, Canadian Imperial Bank of Commerce began 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 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $28.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

Shares of XNDU stock opened at $4.58 on Monday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 1 year low of $4.56 and a 1 year high of $42.44. The company's fifty day simple moving average is $9.30. 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 company has a market cap of $1.39 billion, a P/E ratio of -10.90 and a beta of 14.82.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The quantum computing company reported ($0.14) EPS for the quarter. The firm had revenue of $1.51 million during the quarter. Equities research analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

An institutional investor recently bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 26,737 shares of the quantum computing company's stock, valued at approximately $324,000.

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 technology uses light-based quantum systems and is designed to support practical applications in areas such as materials science, drug discovery, optimization and financial modeling.

The company develops quantum hardware, including its Aurora and Borealis systems, and provides access to quantum computing through cloud-based services.

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