Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Shares Gap Up - Should You Buy?

Key Points

• XNDU shares gapped up from a $4.52 close to a $4.79 open, last trading near $4.78 on volume of approximately 3.1 million shares.
• Analyst sentiment is mixed but leans positive: MarketBeat lists a “Moderate Buy” consensus with a $28.75 average price target, despite recent sell-rating actions and target-price cuts.
• Xanadu reported a quarterly loss of $0.14 per share on $1.51 million in revenue, while analysts expect a full-year loss of $0.54 per share; the company develops photonic quantum computers and related software.

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $4.52, but opened at $4.79. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares shares last traded at $4.78, with a volume of 3,123,234 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings cut 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. Wall Street Zen raised 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. Royal Bank Of Canada initiated 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. Canaccord Genuity Group decreased their target price on 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. Finally, Canadian Imperial Bank of Commerce started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Tuesday, July 28th. They issued a "sector outperform" rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has 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 an average rating of "Moderate Buy" and a consensus price target of $28.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53. The stock has a market capitalization of $1.55 billion, a P/E ratio of -12.17 and a beta of 15.25. The company has a fifty day moving average of $8.94.

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

Institutional Investors 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 acquired 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 disclosure with the Securities & Exchange Commission. The institutional investor acquired 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 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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