Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Shares Gap Up – Still a Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $12.00, but opened at $12.35. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares shares last traded at $12.31, with a volume of 626,009 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on XNDU shares. Canaccord Genuity Group initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 23rd. They issued a “buy” rating and a $45.00 target price for the company. Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen downgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “strong sell” rating in a research note on Saturday, May 30th. Northland Securities started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, April 20th. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, Weiss Ratings raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Up 1.3%

The company has a 50 day simple moving average of $18.71.

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. On average, research analysts forecast that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 earnings per share for the current 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.