Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares $XNDU Shares Newly Purchased by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. purchased a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) during the 3rd quarter, HoldingsChannel reports. The firm purchased 2,308,892 shares of the quantum computing company’s stock, valued at approximately $10,575,000. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares comprises approximately 0.8% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 26th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Apollon Wealth Management LLC bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter valued at about $57,000. TD Waterhouse Canada Inc. grew its stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company’s stock worth $84,000 after purchasing an additional 17,260 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the 2nd quarter worth approximately $324,000.

Wall Street Analysts Forecast Growth

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

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Up 7.9%

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock opened at $2.88 on Tuesday. The company has a 50 day moving average price of $5.19 and a 200 day moving average price of $11.22. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 52 week low of $2.34 and a 52 week high of $42.44. The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53. The firm has a market capitalization of $876.15 million, a price-to-earnings ratio of -6.86 and a beta of 15.30.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that develops quantum computers based on photonics, using particles of light to process information. Its work includes building quantum hardware and developing software intended to help researchers and businesses create and run quantum applications.

The company also develops PennyLane, an open-source software library for quantum computing and quantum machine learning. Xanadu has made quantum computing tools and hardware available through cloud-based services, supporting users beyond its home base in Toronto, Canada.

Xanadu was founded in 2016 by physicist Christian Weedbrook, who serves as the company’s chief executive officer.