Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Down 5.8% – Should You Sell?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) shares dropped 5.8% on Thursday . The stock traded as low as $12.68 and last traded at $12.78. Approximately 561,707 shares changed hands during trading, a decline of 90% from the average daily volume of 5,434,344 shares. The stock had previously closed at $13.57.

Analyst Ratings Changes

Several analysts have recently issued reports on XNDU shares. Northland Securities started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, April 20th. They issued an “outperform” rating and a $43.00 target price for the company. Weiss Ratings upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “strong sell” rating in a report on Saturday, May 30th. Zacks Research raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research note on Tuesday, April 21st. Finally, Canaccord Genuity Group began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, April 23rd. They set a “buy” rating and a $45.00 price target on the stock. 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. According to data from MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a consensus rating of “Hold” and an average target price of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Down 3.5%

The company’s 50-day moving average price is $17.96.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its earnings results on Thursday, May 14th. The quantum computing company reported ($0.28) earnings per share (EPS) for the quarter. The company had revenue of $2.83 million for the quarter, compared to the consensus estimate of $0.70 million. As a group, analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 earnings per share for the current year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

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.