Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Reaches New 52-Week Low - Time to Sell?

Key Points

• Xanadu shares hit a new 52-week low, falling to $2.45 intraday and last trading at $2.49, down from the prior close of $2.62.
• Analyst views are mixed: MarketBeat reports a “Moderate Buy” consensus and a $23.75 average price target, while individual targets range from $3.75 to $34 and ratings include a sell.
• The company reported a quarterly loss of $0.14 per share on $1.51 million in revenue; analysts expect a full-year loss of $0.47 per share.

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $2.45 and last traded at $2.49, with a volume of 500,480 shares trading hands. The stock had previously closed at $2.62.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on XNDU shares. Royal Bank Of Canada initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, September 28th. They set an "outperform" rating and a $16.00 price target for the company. Weiss Ratings raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, October 21st. Canaccord Genuity Group dropped their target price 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 report on Thursday, August 6th. Canadian Imperial Bank of Commerce began coverage on 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 target price for the company. Finally, Morgan Stanley assumed coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, October 15th. They issued an "equal weight" rating and a $3.75 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares presently has an average rating of "Moderate Buy" and a consensus price target of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

The stock has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $11.40. The company has a market cap of $717.96 million, a P/E ratio of -5.62 and a beta of 15.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53.

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 (EPS) for the quarter. The business had revenue of $1.51 million during the quarter. On average, equities analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 EPS for the current year.

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

Hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC acquired a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the 3rd quarter valued at approximately $57,000. TD Waterhouse Canada Inc. increased its position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% during the third quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company's stock worth $84,000 after acquiring an additional 17,260 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the second quarter worth $324,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the third quarter worth $10,575,000.

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 approach uses light-based quantum systems, which are designed to support scalable, networked quantum computing applications.

The company develops quantum hardware, cloud-accessible computing services and software tools for researchers, developers and businesses. Its technology portfolio includes photonic quantum processors and PennyLane, an open-source software library that enables users to build and run quantum machine-learning and quantum-computing applications across different hardware platforms.

Founded in 2016, Xanadu serves a global community of users through its software and cloud offerings, with applications spanning quantum research, machine learning, optimization and scientific computing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.