Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Trading 6.7% Higher - What's Next?

Key Points

• XNDU shares rose 6.7% to $11.50 in mid-day trading, although volume was down 91% from its average.
• Analyst views remain mixed, but the stock carries a consensus “Moderate Buy” rating and a $33.00 average price target; Canaccord recently cut its target to $34 from $45.
• Xanadu reported a quarterly loss of $0.14 per share on $1.51 million in revenue, with analysts projecting a full-year loss of $0.54 per share.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) were up 6.7% during mid-day trading on Friday . The company traded as high as $11.65 and last traded at $11.50. 336,743 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 3,901,754 shares. The stock had previously closed at $10.78.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on XNDU. Weiss Ratings lowered shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday. Canaccord Genuity Group lowered their price target 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. Northland Securities assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, April 20th. They set an "outperform" rating and a $43.00 price target on the stock. 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 objective on the stock. Finally, Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a "hold" rating in a research note on Tuesday, April 21st. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

The firm has a market capitalization of $3.49 billion, a PE ratio of -27.86 and a beta of 14.94. The company has a fifty day simple moving average of $11.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53.

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 for the quarter. The business had revenue of $1.51 million during the quarter. Analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS 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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