Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Shares Up 8.6% – Should You Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) shares shot up 8.6% on Wednesday . The company traded as high as $12.75 and last traded at $12.73. 805,353 shares were traded during mid-day trading, a decline of 86% from the average session volume of 5,740,224 shares. The stock had previously closed at $11.72.

Analyst Ratings Changes

A number of research firms have weighed in on XNDU. Weiss Ratings began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, April 16th. They issued a “sell (d-)” rating for the company. Zacks Research upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Canaccord Genuity Group began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, April 23rd. They issued a “buy” rating and a $45.00 price target for the company. Finally, Northland Securities started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, April 20th. They issued an “outperform” rating and a $43.00 price target for the company. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

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