Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $23.75.

A number of brokerages have recently commented on XNDU. Canaccord Genuity Group reduced 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 for the company in a research note on Thursday, August 6th. Royal Bank Of Canada started 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 objective 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 research report on Wednesday, October 21st. Morgan Stanley initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, October 15th. They issued an “equal weight” rating and a $3.75 target price on the stock. Finally, Canadian Imperial Bank of Commerce initiated coverage on shares of 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.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Up 0.7%

NASDAQ XNDU opened at $2.80 on Thursday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a one year low of $2.34 and a one year high of $42.44. The stock has a 50-day moving average of $4.89 and a 200 day moving average of $11.11. The company has a current ratio of 25.53, a quick ratio of 25.09 and a debt-to-equity ratio of 0.10.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last posted its earnings results on Wednesday, November 11th. The quantum computing company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The business had revenue of $1.31 million for the quarter. As a group, analysts forecast that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Cibc World Market Inc. purchased a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the third quarter valued at $272,000. Jefferies Financial Group Inc. bought a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter valued at about $826,000. Lockheed Martin Investment Management Co. purchased a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter worth about $10,575,000. Apollon Wealth Management LLC purchased a new position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter worth about $57,000. Finally, TD Waterhouse Canada Inc. boosted its position in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% in the third 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.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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.