Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Shares Gap Down - Here's Why

Key Points

• XNDU gapped down premarket from a prior close of $36.12 to open at $13.23 (last traded $13.72), a drop of about 58.6% on roughly 19.07 million shares traded.
• Analyst sentiment is mixed—two Buys, one Hold and one Sell with a consensus Hold and an average price target of $44—and the company reported a large quarterly loss of ($14.29) EPS while analysts expect about -0.52 EPS for the year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $36.12, but opened at $13.23. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares shares last traded at $13.72, with a volume of 19,072,383 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on XNDU. Canaccord Genuity Group began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 23rd. They issued a "buy" rating and a $45.00 price target on the stock. Northland Securities began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, April 20th. They issued an "outperform" rating and a $43.00 price target on the stock. Weiss Ratings began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 16th. They issued a "sell (d-)" rating on the stock. Finally, Zacks Research raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a "hold" rating in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 58.6%

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) last posted its earnings results on Thursday, April 9th. The quantum computing company reported ($14.29) earnings per share (EPS) for the quarter. As a group, analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.52 earnings per share for the current year.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Xanadu Quantum Technologies Limited is a quantum computing company headquartered in Toronto, Canada, that develops photonics-based quantum hardware and software. The company focuses on building programmable photonic quantum processors that use light rather than superconducting qubits, and it provides cloud-based access to its systems for researchers and commercial users. Xanadu is publicly listed under the ticker XNDU on both Nasdaq and the Toronto Stock Exchange.

Its technology stack combines integrated photonic hardware, control systems, and software designed to support quantum algorithms and applications in areas such as optimization, simulation, and quantum machine learning.

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