Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Trading Up 8.4% – Should You Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) shares traded up 8.4% during trading on Tuesday . The company traded as high as $12.01 and last traded at $11.95. Approximately 796,152 shares changed hands during trading, a decline of 85% from the average daily volume of 5,272,605 shares. The stock had previously closed at $11.02.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on XNDU shares. Weiss Ratings raised 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. Wall Street Zen raised 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. Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Northland Securities assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, April 20th. They set an “outperform” rating and a $43.00 price objective on the stock. Finally, Canaccord Genuity Group assumed coverage on 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 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

The company’s 50 day simple moving average is $16.30. The company has a current ratio of 14.35, a quick ratio of 14.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.54 billion, a P/E ratio of -42.32 and a beta of 14.96.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last announced 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, analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 EPS 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.