Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Up 7% – Here’s Why

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s stock price traded up 7% on Monday . The stock traded as high as $11.30 and last traded at $11.25. Approximately 474,553 shares traded hands during trading, a decline of 87% from the average session volume of 3,627,870 shares. The stock had previously closed at $10.51.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XNDU. Wall Street Zen upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. 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. Canadian Imperial Bank of Commerce began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Tuesday, July 28th. They issued a “sector outperform” rating and a $22.00 price objective for the company. 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 on the stock in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

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 firm has a market cap of $3.19 billion, a P/E ratio of -25.48 and a beta of 14.94. The business has a fifty day moving average price of $10.96.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its quarterly earnings data 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. On average, sell-side analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

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.