Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Trading Up 11.4% – Time to Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s share price were up 11.4% during mid-day trading on Monday . The company traded as high as $13.40 and last traded at $13.13. Approximately 1,877,140 shares changed hands during trading, a decline of 66% from the average daily volume of 5,474,426 shares. The stock had previously closed at $11.79.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on XNDU shares. Northland Securities started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, April 20th. They set an “outperform” rating and a $43.00 price target for the company. 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. Canaccord Genuity Group started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, April 23rd. They set a “buy” rating and a $45.00 price target for the company. Weiss Ratings upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares 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 business’s fifty day moving average is $18.06.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its quarterly earnings results on Thursday, May 14th. The quantum computing company reported ($0.28) earnings per share for the quarter. The business had revenue of $2.83 million for the quarter, compared to analyst estimates of $0.70 million. Analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 earnings per share for the current fiscal 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.