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

Key Points

• XNDU hit a new 52-week low, falling to $2.50 during Monday trading from a previous close of $2.64, with about 501,332 shares changing hands.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $23.75, although targets range from $3.75 to $34 and one analyst rates the stock a Sell.
• Xanadu reported a quarterly loss of $0.14 per share on $1.51 million in revenue, while analysts expect a full-year loss of approximately $0.47 per share. The company had a market capitalization of about $803 million and an unusually high beta of 15.25.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $2.50 and last traded at $2.53, with a volume of 501,332 shares traded. The stock had previously closed at $2.64.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on XNDU. Royal Bank Of Canada assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, September 28th. They set an "outperform" rating and a $16.00 target price for the company. Weiss Ratings upgraded 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. Canadian Imperial Bank of Commerce assumed 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 price objective on the stock. Canaccord Genuity Group cut 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. Finally, Morgan Stanley set a $3.75 target price on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares and gave the company an "equal weight" rating in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

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 company has a market cap of $803.14 million, a P/E ratio of -6.29 and a beta of 15.25. The business has a 50-day moving average price of $6.88.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $1.51 million for the quarter. On average, analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC acquired a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter valued at $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% in the third quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company's stock valued at $84,000 after buying an additional 17,260 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the second quarter valued at $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 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.

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