Royal Bank Of Canada Upgrades Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) to Moderate Buy

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) was upgraded by investment analysts at Royal Bank Of Canada to a “moderate buy” rating in a report issued on Monday, Zacks reports.

XNDU has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Tuesday, July 28th. They issued a “sector outperform” rating and a $22.00 price target for the company. Weiss Ratings lowered 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. Canaccord Genuity Group cut their target price 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 research report on Thursday, August 6th. Finally, Wall Street Zen raised 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a consensus rating of “Moderate Buy” and an average target price of $28.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

Shares of NASDAQ XNDU opened at $4.58 on Monday. The stock has a fifty day moving average price of $9.30. The company has a current ratio of 25.53, a quick ratio of 25.09 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.39 billion, a PE ratio of -10.90 and a beta of 14.82. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 1 year low of $4.56 and a 1 year high of $42.44.

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

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

An institutional investor recently bought a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. Tidal Investments LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) in the 2nd quarter, according to the company in 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.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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.