Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Short Interest Update

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 7,221,889 shares, a growth of 46.6% from the August 31st total of 4,926,691 shares. Based on an average trading volume of 1,637,429 shares, the short-interest ratio is currently 4.4 days. Approximately 2.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group lowered their price target on 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 report on Thursday, August 6th. Royal Bank Of Canada started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday. They set an “outperform” rating and a $16.00 price objective on the stock. Weiss Ratings cut shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. Canadian Imperial Bank of Commerce started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They issued a “sector outperform” rating and a $22.00 target price for the company. Finally, Wall Street Zen raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Hedge Funds Weigh In On Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

An institutional investor recently bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,737 shares of the quantum computing company’s stock, valued at approximately $324,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock opened at $4.48 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of -10.67 and a beta of 15.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 25.53 and a quick ratio of 25.09. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a fifty-two week low of $4.44 and a fifty-two week high of $42.44. The firm has a 50-day moving average price of $9.18.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its quarterly earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share (EPS) for the quarter. The company 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 -0.54 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 photonic quantum computers and the software tools used to program them. Its technology is designed to use light particles, or photons, to perform quantum computations and support applications across areas such as materials science, drug discovery, finance and artificial intelligence.

The company provides access to its quantum hardware through cloud-based services and develops PennyLane, an open-source software framework for quantum machine learning, quantum chemistry and quantum computing.