Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Down 5.8% – Should You Sell?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s stock price dropped 5.8% on Thursday . The stock traded as low as $12.68 and last traded at $12.78. Approximately 561,707 shares were traded during trading, a decline of 90% from the average daily volume of 5,434,344 shares. The stock had previously closed at $13.57.

Wall Street Analyst Weigh In

XNDU has been the subject of several recent research reports. Weiss Ratings upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research note on Tuesday, April 21st. Canaccord Genuity Group initiated coverage on 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 target price on the stock. Northland Securities initiated coverage on 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 target price on the stock. Finally, Wall Street Zen lowered Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “strong sell” rating in a research report on Saturday, May 30th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has a consensus rating of “Hold” and an average price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

The stock’s 50-day moving average is $17.96.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its earnings results on Thursday, May 14th. The quantum computing company reported ($0.28) EPS for the quarter. The company had revenue of $2.83 million during the quarter, compared to analysts’ expectations of $0.70 million. As a group, analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 earnings per share for the current fiscal year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

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.