Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.75.

A number of analysts have weighed in on XNDU shares. Canaccord Genuity Group decreased 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 research report on Thursday, August 6th. Morgan Stanley started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, October 15th. They set an “equal weight” rating and a $3.75 target price for the company. Royal Bank Of Canada started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, September 28th. They set an “outperform” rating and a $16.00 target price for the company. Weiss Ratings upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 21st. Finally, Canadian Imperial Bank of Commerce began coverage on 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 target on the stock.

Institutional Trading of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Several hedge funds have recently modified their holdings of the stock. Lockheed Martin Investment Management Co. acquired a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter valued at $10,575,000. Tidal Investments LLC bought a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the second quarter worth $324,000. TD Waterhouse Canada Inc. boosted its stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% during the third quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company’s stock worth $84,000 after acquiring an additional 17,260 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter worth $57,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 2.6%

Shares of NASDAQ XNDU opened at $2.62 on Thursday. The company has a market cap of $797.06 million, a price-to-earnings ratio of -6.24 and a beta of 15.30. The company has a current ratio of 25.53, a quick ratio of 25.09 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $5.65 and a two-hundred day moving average price of $11.40. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 12 month low of $2.50 and a 12 month high of $42.44.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last posted its earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) EPS for the quarter. The business had revenue of $1.51 million during the quarter. As a group, analysts forecast that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 earnings per share for the current fiscal year.

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.