Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU – Get Free Report) rose 6.3% on Tuesday. The stock traded as high as $2.74 and last traded at $2.72. 497,043 shares were traded during trading, a decline of 89% from the average daily volume of 4,380,057 shares. The stock had previously closed at $2.56.
Analyst Upgrades and Downgrades
XNDU has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 price target for the company. Royal Bank Of Canada started coverage on shares of 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 price objective on the stock. Weiss Ratings raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, October 21st. Morgan Stanley set a $3.75 target price on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares and gave the company an “equal weight” rating in a report on Thursday, October 15th. Finally, Canaccord Genuity Group dropped their target price on shares of 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 report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares presently has an average rating of “Moderate Buy” and a consensus target price of $23.75.
View Our Latest Report on XNDU
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Up 11.3%
The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53. The stock has a market cap of $867.03 million, a PE ratio of -6.79 and a beta of 15.25. The firm’s fifty day simple moving average is $6.91.
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU – Get Free Report) last posted its earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share (EPS) for the quarter. The company 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 -0.47 earnings per share for the current fiscal year.
Institutional Trading of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares
A number of institutional investors and hedge funds have recently bought and sold shares of XNDU. Apollon Wealth Management LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the third quarter worth about $57,000. TD Waterhouse Canada Inc. boosted its stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% in the third quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company’s stock valued at $84,000 after purchasing an additional 17,260 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the second quarter 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 approach uses light-based quantum systems, which are designed to support scalable, networked quantum computing applications.
The company develops quantum hardware, cloud-accessible computing services and software tools for researchers, developers and businesses. Its technology portfolio includes photonic quantum processors and PennyLane, an open-source software library that enables users to build and run quantum machine-learning and quantum-computing applications across different hardware platforms.
Founded in 2016, Xanadu serves a global community of users through its software and cloud offerings, with applications spanning quantum research, machine learning, optimization and scientific computing.
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