Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Trading Down 7.5% – Here’s What Happened

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) shares fell 7.5% on Friday . The company traded as low as $11.29 and last traded at $11.30. 447,420 shares changed hands during trading, a decline of 92% from the average session volume of 5,324,025 shares. The stock had previously closed at $12.21.

Analysts Set New Price Targets

Several brokerages recently weighed in on XNDU. 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 report on Saturday, June 20th. Canaccord Genuity Group initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 23rd. They set a “buy” rating and a $45.00 price target on the stock. Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Northland Securities initiated 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. Finally, Weiss Ratings upgraded 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. Two research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

The stock has a market cap of $3.34 billion and a price-to-earnings ratio of -39.93. The business’s fifty day moving average is $17.41. The company has a current ratio of 14.35, a quick ratio of 14.05 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 (EPS) for the quarter. The business had revenue of $2.83 million during the quarter, compared to analyst estimates of $0.70 million. Equities 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.