Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Reaches New 1-Year Low - Here's Why

Key Points

• XNDU hit a new 52-week low, trading as low as $2.97 and closing around $3.00, down 3.3%. Its market capitalization is approximately $894 million, while the stock’s 50-day moving average is $7.68.
• Analyst views remain mixed, with ratings ranging from Sell to Strong Buy, but the overall consensus is “Moderate Buy” with a target price of $23.75. Recent targets include $3.75 from Morgan Stanley, $16 from RBC and $34 from Canaccord Genuity.
• The quantum-computing company reported a quarterly loss of $0.14 per share on $1.51 million in revenue, and analysts expect a full-year loss of $0.47 per share. Xanadu develops photonic quantum computers and related software, including the PennyLane platform.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) hit a new 52-week low on Monday. The company traded as low as $2.97 and last traded at $3.00, with a volume of 1,170,672 shares changing hands. The stock had previously closed at $3.04.

Analyst Ratings Changes

Several equities analysts recently issued reports on XNDU shares. Canadian Imperial Bank of Commerce assumed 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 objective on the stock. 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 for the company in a report on Thursday, August 6th. Morgan Stanley set a $3.75 target price on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares and gave the company an "equal weight" rating in a research note on Thursday. 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 note on Wednesday, August 26th. Finally, Royal Bank Of Canada initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, September 28th. They set an "outperform" rating and a $16.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Down 3.3%

The business's 50-day moving average is $7.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 25.53 and a quick ratio of 25.09. The firm has a market cap of $894.42 million, a PE ratio of -7.00 and a beta of 15.25.

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) earnings per share for the quarter. The company had revenue of $1.51 million for the quarter. Equities research 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

A hedge fund recently raised its position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. TD Waterhouse Canada Inc. increased its stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Free Report) by 1,113.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,810 shares of the quantum computing company's stock after acquiring an additional 17,260 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares were worth $84,000 at the end of the most recent quarter.

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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