Arqit Quantum (NASDAQ:ARQQ) Shares Gap Down - What's Next?

Key Points

• Arqit Quantum Inc.'s stock gapped down from a closing price of $54.21 to an opening price of $52.00 on Thursday, September 18th, and last traded at $54.89 with a volume of 113,993 shares.
• Weiss Ratings has issued a "sell (d)" rating, while HC Wainwright reissued a "buy" rating with a price target of $52.00, indicating a mixed outlook from analysts.
• Institutional investors have been actively trading Arqit Quantum’s stock, with significant increases in holdings by firms such as Virtu Financial LLC, which raised its stake by 440.7% in the first quarter.

Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $54.21, but opened at $52.00. Arqit Quantum shares last traded at $54.89, with a volume of 113,993 shares.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Arqit Quantum in a research report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $52.00 price target on shares of Arqit Quantum in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.00.

Arqit Quantum Stock Performance

The company's 50 day simple moving average is $35.09 and its two-hundred day simple moving average is $28.40.

Institutional Trading of Arqit Quantum

Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in Arqit Quantum by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 31,145 shares of the company's stock worth $432,000 after buying an additional 7,032 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Arqit Quantum by 440.7% in the first quarter. Virtu Financial LLC now owns 32,208 shares of the company's stock valued at $446,000 after purchasing an additional 26,251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Arqit Quantum in the first quarter valued at approximately $40,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Arqit Quantum in the first quarter valued at approximately $146,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Arqit Quantum in the second quarter valued at approximately $268,000. 16.60% of the stock is owned by institutional investors.

About Arqit Quantum

Arqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud, a Platform as a Service that creates unbreakable software encryption keys. The company also provides maintenance and support, and professional services. Arqit Quantum Inc is based in London, the United Kingdom.

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