Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Rating Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) from a sell rating to a strong sell rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts also recently weighed in on XNDU. Canadian Imperial Bank of Commerce began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 target price for the company. Royal Bank Of Canada reduced their price objective on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to $13.00 and set an “outperform” rating on the stock in a research note on Thursday. Canaccord Genuity Group reduced their price objective 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 note on Thursday, August 6th. 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. Finally, Morgan Stanley began coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, October 15th. They set an “equal weight” rating and a $3.75 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.15.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Down 9.1%

Shares of XNDU stock traded down $0.23 on Friday, hitting $2.29. The company had a trading volume of 7,207,405 shares, compared to its average volume of 4,965,143. The firm has a market cap of $696.66 million, a P/E ratio of -5.45 and a beta of 15.30. The stock’s 50-day moving average is $4.58 and its two-hundred day moving average is $10.99. 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 has a twelve month low of $2.21 and a twelve month high of $42.44.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last posted its quarterly earnings data on Wednesday, November 11th. The quantum computing company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $1.31 million during the quarter. On average, equities research analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XNDU. Lockheed Martin Investment Management Co. bought a new stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in the third quarter valued at $10,575,000. Cibc World Market Inc. acquired a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the third quarter valued at about $272,000. Jefferies Financial Group Inc. bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter worth about $826,000. Apollon Wealth Management LLC bought a new position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter worth about $57,000. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% during 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 in 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.