Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Reaches New 52-Week Low – Time to Sell?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $5.99 and last traded at $5.99, with a volume of 2535702 shares. The stock had previously closed at $7.37.

Analyst Ratings Changes

A number of research firms have weighed in on XNDU. Canaccord Genuity Group lowered their target price on 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 report on Thursday, August 6th. Wall Street Zen upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “strong sell” rating to a “sell” rating in a research note 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 research report on Wednesday, August 26th. Finally, Canadian Imperial Bank of Commerce initiated coverage on shares of 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 objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 25.5%

The stock’s fifty day moving average price is $10.09. 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 company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -13.07 and a beta of 14.82.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last posted its quarterly earnings data on Wednesday, August 5th. The quantum computing company reported ($0.14) EPS for the quarter. The firm had revenue of $1.51 million during the quarter. As a group, research analysts forecast that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.54 EPS for the current year.

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

An institutional investor recently bought a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 26,737 shares of the quantum computing company’s stock, valued at approximately $324,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

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 technology uses light-based quantum systems and is designed to support practical applications in areas such as materials science, drug discovery, optimization and financial modeling.

The company develops quantum hardware, including its Aurora and Borealis systems, and provides access to quantum computing through cloud-based services.