Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Hits New 52-Week Low – Here’s Why

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $4.72 and last traded at $4.90, with a volume of 1334036 shares. The stock had previously closed at $4.98.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group decreased their price objective 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. Weiss Ratings lowered shares of 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. Canadian Imperial Bank of Commerce began 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 for the company. Finally, Wall Street Zen upgraded 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, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 2.0%

The firm has a market cap of $1.48 billion, a PE ratio of -11.62 and a beta of 14.82. The business has a 50-day moving average of $9.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53.

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

Institutional Trading of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

A hedge fund recently bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC acquired a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 26,737 shares of the quantum computing company’s stock, valued at approximately $324,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

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.