Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Has Consensus Price Target of $28.75 According to Analysts

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.75.

XNDU has been the subject of several research reports. Canaccord Genuity Group dropped 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. Canadian Imperial Bank of Commerce assumed 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. Morgan Stanley set a $3.75 price objective on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares and gave the company an “equal weight” rating in a report on Thursday. Wall Street Zen raised shares of 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, Weiss Ratings lowered shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th.

Hedge Funds Weigh In On Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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 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.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock opened at $3.34 on Friday. The firm’s 50 day moving average price is $7.84. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 12 month low of $3.00 and a 12 month high of $42.44. The firm has a market capitalization of $1.02 billion, a PE ratio of -7.95 and a beta of 15.25. The company has a quick ratio of 25.09, a current ratio of 25.53 and a debt-to-equity ratio of 0.10.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share for the quarter. The firm had revenue of $1.51 million during the quarter. As a group, research analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current fiscal year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that develops photonic quantum computers and the software tools used to program them. Its technology is designed to use light particles, or photons, to perform quantum computations and support applications across areas such as materials science, drug discovery, finance and artificial intelligence.

The company provides access to its quantum hardware through cloud-based services and develops PennyLane, an open-source software framework for quantum machine learning, quantum chemistry and quantum computing.