Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Reaches New 52-Week Low – Time to Sell?

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) reached a new 52-week low on Thursday. The stock traded as low as $2.45 and last traded at $2.49, with a volume of 500,480 shares trading hands. The stock had previously closed at $2.62.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on XNDU shares. Royal Bank Of Canada initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, September 28th. They set an “outperform” rating and a $16.00 price target for the company. Weiss Ratings raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Canaccord Genuity Group dropped their target price on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Canadian Imperial Bank of Commerce began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 target price for the company. Finally, Morgan Stanley assumed coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, October 15th. They issued an “equal weight” rating and a $3.75 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares presently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

The stock has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $11.40. The company has a market cap of $717.96 million, a P/E ratio of -5.62 and a beta of 15.30. 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 released its quarterly earnings data on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $1.51 million during the quarter. On average, equities analysts expect that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC acquired a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the 3rd quarter valued at approximately $57,000. TD Waterhouse Canada Inc. increased its position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% during the third quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company’s stock worth $84,000 after acquiring an additional 17,260 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the second quarter worth $324,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the third quarter worth $10,575,000.

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 approach uses light-based quantum systems, which are designed to support scalable, networked quantum computing applications.

The company develops quantum hardware, cloud-accessible computing services and software tools for researchers, developers and businesses. Its technology portfolio includes photonic quantum processors and PennyLane, an open-source software library that enables users to build and run quantum machine-learning and quantum-computing applications across different hardware platforms.

Founded in 2016, Xanadu serves a global community of users through its software and cloud offerings, with applications spanning quantum research, machine learning, optimization and scientific computing.