Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Sets New 1-Year Low After Analyst Downgrade

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s share price hit a new 52-week low during mid-day trading on Friday after Royal Bank Of Canada lowered their price target on the stock to $13.00. Royal Bank Of Canada currently has an outperform rating on the stock. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares traded as low as $2.27 and last traded at $2.33, with a volume of 1,553,640 shares trading hands. The stock had previously closed at $2.52.

A number of other analysts have also recently commented on XNDU. Canaccord Genuity Group dropped their price target 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. 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. Canadian Imperial Bank of Commerce assumed coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 price objective on the stock. Finally, Morgan Stanley initiated 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. One 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 given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.15.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XNDU. Lockheed Martin Investment Management Co. acquired a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter worth approximately $10,575,000. Jefferies Financial Group Inc. acquired a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the third quarter worth approximately $826,000. Tidal Investments LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the 2nd quarter worth approximately $324,000. Cibc World Market Inc. bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter valued at about $272,000. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% in the 3rd 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.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price 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 company has a market cap of $690.58 million, a PE ratio of -5.40 and a beta of 15.30. The stock has a fifty day moving average price of $4.74 and a 200-day moving average price of $11.05.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last announced its earnings results on Wednesday, November 11th. The quantum computing company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $1.31 million for the quarter. On average, equities analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 earnings per share for the current year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that develops quantum computers based on photonics, using particles of light to process information. Its work includes building quantum hardware and developing software intended to help researchers and businesses create and run quantum applications. The company also develops PennyLane, an open-source software library for quantum computing and quantum machine learning. Xanadu has made quantum computing tools and hardware available through cloud-based services, supporting users beyond its home base in Toronto, Canada.