Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Shares Down 6.4% - Should You Sell?

Key Points

• XNDU shares fell 6.4% to about $4.99 in mid-day trading, with roughly 3.44 million shares changing hands. The stock remains well below its 50-day moving average of $9.88.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $33, although Canaccord recently cut its target from $45 to $34 and other firms maintain “Sell” ratings.
• Xanadu 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. The company develops photonic quantum-computing hardware and cloud-based software services.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) shares traded down 6.4% during mid-day trading on Thursday . The stock traded as low as $4.91 and last traded at $4.99. Approximately 3,437,392 shares were traded during mid-day trading, a decline of 10% from the average session volume of 3,802,454 shares. The stock had previously closed at $5.33.

Analyst Ratings Changes

A number of brokerages have weighed in on XNDU. 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 note on Saturday, June 20th. Canadian Imperial Bank of Commerce started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Tuesday, July 28th. They issued a "sector outperform" rating and a $22.00 price objective on the stock. Canaccord Genuity Group reduced 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 for the company in a research note on Thursday, August 6th. Finally, 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 note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has an average rating of "Moderate Buy" and an average target price of $33.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 6.2%

The company's fifty day moving average is $9.88. The company has a quick ratio of 25.09, a current ratio of 25.53 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.52 billion, a P/E ratio of -11.90 and a beta of 14.82.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) last announced its earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) EPS for the quarter. The company had revenue of $1.51 million for the quarter. Analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current year.

Hedge Funds Weigh In On 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 bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 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 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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