Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Down 8.4% – Here’s Why

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s stock price fell 8.4% during trading on Wednesday . The stock traded as low as $15.29 and last traded at $15.50. 1,160,994 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 5,896,976 shares. The stock had previously closed at $16.93.

Analysts Set New Price Targets

Several brokerages have issued reports on XNDU. Canaccord Genuity Group initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, April 23rd. They set a “buy” rating and a $45.00 target price on the stock. Wall Street Zen lowered Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “strong sell” rating in a research report on Saturday. Northland Securities assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, April 20th. They issued an “outperform” rating and a $43.00 price objective for the company. Weiss Ratings raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Down 13.3%

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its earnings results on Thursday, May 14th. The quantum computing company reported ($0.28) EPS for the quarter. The business had revenue of $2.83 million during the quarter, compared to analysts’ expectations of $0.70 million. Sell-side analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 earnings per share for the current fiscal year.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Xanadu Quantum Technologies Limited is a quantum computing company headquartered in Toronto, Canada, that develops photonics-based quantum hardware and software. The company focuses on building programmable photonic quantum processors that use light rather than superconducting qubits, and it provides cloud-based access to its systems for researchers and commercial users. Xanadu is publicly listed under the ticker XNDU on both Nasdaq and the Toronto Stock Exchange.

Its technology stack combines integrated photonic hardware, control systems, and software designed to support quantum algorithms and applications in areas such as optimization, simulation, and quantum machine learning.