Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Upgraded to Moderate Buy at Royal Bank Of Canada

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) was upgraded by research analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued on Monday, Zacks reports.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their price objective on shares of 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. Canadian Imperial Bank of Commerce assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Tuesday, July 28th. They issued a “sector outperform” rating and a $22.00 target price on the stock. Weiss Ratings lowered Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 26th. Finally, Wall Street Zen raised 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

Shares of NASDAQ:XNDU opened at $4.58 on Monday. 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 stock’s fifty day moving average is $9.30. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a fifty-two week low of $4.56 and a fifty-two week high of $42.44. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -10.90 and a beta of 14.82.

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

Institutional Trading of 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 purchased a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 26,737 shares of the quantum computing company’s stock, valued at approximately $324,000.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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.