Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts give Xanadu Quantum Technologies a “Moderate Buy” consensus rating, with two buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $33, though Canaccord recently cut its target from $45 to $34.
• XNDU opened at $7.80, down 2.7%, and has traded between $6.97 and $42.44 over the past year. The company reported a quarterly loss of $0.14 per share on $1.51 million in revenue, with analysts forecasting a full-year loss of $0.54 per share.
• Xanadu develops photonic quantum computers and cloud-based quantum software for applications including drug discovery, materials science, optimization and financial modeling; Tidal Investments recently purchased 26,737 shares.

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $33.00.

A number of brokerages recently weighed in on XNDU. Canaccord Genuity Group dropped their price objective on 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 research report on Thursday, August 6th. 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 report on Saturday, June 20th. 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, Canadian Imperial Bank of Commerce assumed 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 price target on the stock.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 2.7%

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock opened at $7.80 on Wednesday. The business's fifty day moving average is $10.38. 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 $2.33 billion, a price-to-earnings ratio of -18.57 and a beta of 14.82. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a twelve month low of $6.97 and a twelve month high of $42.44.

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

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

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

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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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