Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Trading 11.4% Higher – Should You Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s share price shot up 11.4% on Monday . The company traded as high as $13.40 and last traded at $13.13. 1,877,140 shares changed hands during trading, a decline of 66% from the average session volume of 5,474,426 shares. The stock had previously closed at $11.79.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on XNDU. Wall Street Zen lowered shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “strong sell” rating in a research report on Saturday, May 30th. Northland Securities began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, April 20th. They set an “outperform” rating and a $43.00 target price for the company. Canaccord Genuity Group began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, April 23rd. They set a “buy” rating and a $45.00 target price for the company. Weiss Ratings raised 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. Finally, Zacks Research raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

The business has a 50-day moving average price of $18.26.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last posted its quarterly 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 analysts’ expectations of $0.70 million. As a group, equities research analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 earnings per share for the current fiscal year.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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.