Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Up 6.3% - Should You Buy?

Key Points

• XNDU shares rose 6.3% to $2.72 in Tuesday trading, though volume was 89% below the stock’s average session volume. The company has a market capitalization of approximately $867 million and a highly volatile beta of 15.25.
• Analyst sentiment is mixed but leans positive, with an overall “Moderate Buy” rating and an average price target of $23.75. Targets range from $3.75 to $34, while ratings include one Strong Buy, three Buys, two Holds and one Sell.
• Xanadu reported a quarterly loss of $0.14 per share on $1.51 million in revenue, and analysts expect a full-year loss of $0.47 per share. The company develops photonic quantum computers, cloud services and quantum software, including PennyLane.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) rose 6.3% during trading on Tuesday. The company traded as high as $2.74 and last traded at $2.72. Approximately 497,043 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,380,057 shares. The stock had previously closed at $2.56.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on XNDU shares. Weiss Ratings raised shares of 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. Morgan Stanley set a $3.75 price objective 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, October 15th. Royal Bank Of Canada began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, September 28th. They issued an "outperform" rating and a $16.00 price objective for the company. Canaccord Genuity Group decreased 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 research note on Thursday, August 6th. Finally, Canadian Imperial Bank of Commerce initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They issued a "sector outperform" rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

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 stock has a market capitalization of $867.03 million, a P/E ratio of -6.79 and a beta of 15.25. The stock has a 50 day moving average price of $6.91.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) last announced 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. As a group, analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 $57,000. TD Waterhouse Canada Inc. grew its holdings in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company's stock worth $84,000 after purchasing an additional 17,260 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 2nd quarter worth about $324,000.

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.

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