Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Up 5.8% – Time to Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU)’s stock price traded up 5.8% during trading on Monday . The stock traded as high as $10.65 and last traded at $10.57. 308,973 shares changed hands during trading, a decline of 93% from the average daily volume of 4,627,786 shares. The stock had previously closed at $9.99.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of 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. 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 report on Tuesday, May 26th. Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research note on Tuesday, April 21st. Northland Securities assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, April 20th. They set an “outperform” rating and a $43.00 price objective for the company. Finally, Canaccord Genuity Group began coverage on 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 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

The stock’s 50-day moving average price is $13.11. The stock has a market capitalization of $3.29 billion, a P/E ratio of -39.32 and a beta of 15.00. The company has a quick ratio of 14.05, a current ratio of 14.35 and a debt-to-equity ratio of 0.11.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its quarterly earnings data on Thursday, May 14th. The quantum computing company reported ($0.28) earnings per share for the quarter. The business had revenue of $2.83 million for the quarter, compared to analyst estimates of $0.70 million. On average, analysts forecast that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 EPS 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.