Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts give Xanadu a “Moderate Buy” consensus, with three buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $28.75, although individual targets range from $16 to $34.
• XNDU opened at $3.90, near its 1-year low of $3.85 and far below its 1-year high of $42.44. The company reported a quarterly loss of $0.14 per share on $1.51 million in revenue, with analysts projecting a full-year loss of $0.54 per share.
• Xanadu develops photonic quantum computers, cloud-based quantum hardware access and the PennyLane open-source software framework. Tidal Investments recently acquired 26,737 shares valued at approximately $324,000.

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) have received a consensus rating of "Moderate Buy" from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $28.75.

A number of analysts have commented on the company. Weiss Ratings downgraded 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. Royal Bank Of Canada started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, September 28th. They issued an "outperform" rating and a $16.00 price target for the company. Wall Street Zen upgraded 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. Canadian Imperial Bank of Commerce began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Tuesday, July 28th. They set a "sector outperform" rating and a $22.00 price target for the company. Finally, Canaccord Genuity Group decreased 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 research report on Thursday, August 6th.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

XNDU opened at $3.90 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of -9.29 and a beta of 15.25. 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 stock has a 50 day moving average price of $8.46. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 1-year low of $3.85 and a 1-year high of $42.44.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) last released 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. Research analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current fiscal year.

Institutional Trading of 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 acquired a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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 that develops photonic quantum computers and the software tools used to program them. Its technology is designed to use light particles, or photons, to perform quantum computations and support applications across areas such as materials science, drug discovery, finance and artificial intelligence.

The company provides access to its quantum hardware through cloud-based services and develops PennyLane, an open-source software framework for quantum machine learning, quantum chemistry and quantum computing.

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