Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Sets New 1-Year Low – Here’s Why

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $5.99 and last traded at $5.99, with a volume of 2535702 shares changing hands. The stock had previously closed at $7.37.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 26th. Canadian Imperial Bank of Commerce started coverage on shares of 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 target price on the stock. 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 note on Saturday, June 20th. Finally, Canaccord Genuity Group cut their price objective 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 research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 25.5%

The company has a debt-to-equity ratio of 0.10, a current ratio of 25.53 and a quick ratio of 25.09. The business has a 50 day moving average price of $10.09. The firm has a market capitalization of $1.67 billion, a P/E ratio of -13.07 and a beta of 14.82.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its quarterly earnings data on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share for the quarter. The company had revenue of $1.51 million during the quarter. On average, sell-side analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC purchased a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 focused on developing photonic quantum computers and the software needed to program and operate them. Its technology uses light-based quantum systems and is designed to support practical applications in areas such as materials science, drug discovery, optimization and financial modeling.

The company develops quantum hardware, including its Aurora and Borealis systems, and provides access to quantum computing through cloud-based services.