Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU – Get Free Report) shares hit a new 52-week low on Monday. The company traded as low as $2.97 and last traded at $3.00, with a volume of 1,170,672 shares. The stock had previously closed at $3.04.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on XNDU shares. Royal Bank Of Canada started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, September 28th. They issued an “outperform” rating and a $16.00 target price on the stock. 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 on the stock in a research report on Thursday, August 6th. Canadian Imperial Bank of Commerce began 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 price objective for the company. Morgan Stanley set a $3.75 price objective on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares and gave the stock an “equal weight” rating in a research note on Thursday. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.75.
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 3.3%
The stock has a fifty day simple moving average of $7.68. The stock has a market cap of $894.42 million, a P/E ratio of -7.00 and a beta of 15.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 25.53 and a quick ratio of 25.09.
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 (EPS) for the quarter. The firm had revenue of $1.51 million for the quarter. Equities research analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 earnings per share for the current year.
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 bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,737 shares of the quantum computing company’s stock, valued at approximately $324,000.
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.
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