Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Short Interest Rises 46.6%

Key Points

• Short interest in XNDU surged 46.6% to 7.22 million shares as of September 15, representing about 2.4% of shares outstanding and 4.4 days of average trading volume.
• Analyst views remain mixed but lean positive: the stock has a consensus “Moderate Buy” rating and a $28.75 price target, despite Canaccord cutting its target to $34 and other firms issuing targets between $16 and $22.
• Shares opened at $4.58, near the 52-week low of $4.56, while the company reported a quarterly loss of $0.14 per share on $1.51 million in revenue and analysts expect a full-year loss of $0.54 per share.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 7,221,889 shares, an increase of 46.6% from the August 31st total of 4,926,691 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average trading volume of 1,637,429 shares, the short-interest ratio is presently 4.4 days.

Analysts Set New Price Targets

A number of analysts recently commented on XNDU shares. 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 for the company in a research report on Thursday, August 6th. 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 report on Wednesday, August 26th. Royal Bank Of Canada initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday. They set an "outperform" rating and a $16.00 price target on the stock. 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 for the company. Finally, 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 research report on Saturday, June 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $28.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 4.0%

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock opened at $4.58 on Thursday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a fifty-two week low of $4.56 and a fifty-two week high of $42.44. The business's fifty day simple moving average is $9.30. 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 market cap of $1.39 billion, a price-to-earnings 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 announced 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 anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current year.

Institutional Trading of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

A hedge fund recently bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC purchased a new stake in 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 13F filing with the SEC. The fund purchased 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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