Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Down 7.5% – Here’s Why

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s stock price traded down 7.5% during trading on Friday . The company traded as low as $11.29 and last traded at $11.30. Approximately 447,420 shares changed hands during trading, a decline of 92% from the average daily volume of 5,324,025 shares. The stock had previously closed at $12.21.

Analyst Ratings Changes

A number of analysts have commented on the company. Northland Securities started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, April 20th. They issued an “outperform” rating and a $43.00 target price for the company. Canaccord Genuity Group initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 23rd. They issued a “buy” rating and a $45.00 price objective for the company. Zacks Research upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research note on Tuesday, April 21st. 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 note on Saturday, June 20th. Finally, Weiss Ratings raised 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. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

The company has a current ratio of 14.35, a quick ratio of 14.05 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.36 billion and a price-to-earnings ratio of -40.14. The stock has a 50-day moving average price of $17.69.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its earnings results on Thursday, May 14th. The quantum computing company reported ($0.28) earnings per share (EPS) for the quarter. The company had revenue of $2.83 million for the quarter, compared to the consensus estimate of $0.70 million. On average, equities analysts forecast 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.