Arqit Quantum (NASDAQ:ARQQ) Shares Up 3.8% - Time to Buy?

Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report)'s stock price rose 3.8% on Tuesday . The stock traded as high as $37.96 and last traded at $37.94. Approximately 535,500 shares were traded during trading, a decline of 9% from the average daily volume of 591,460 shares. The stock had previously closed at $36.54.

Arqit Quantum Price Performance

The business's fifty day simple moving average is $30.14 and its 200 day simple moving average is $22.40.

Arqit Quantum (NASDAQ:ARQQ - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The company reported ($1.35) earnings per share for the quarter. Equities analysts expect that Arqit Quantum Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Arqit Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Arqit Quantum in the 4th quarter valued at approximately $30,000. Barclays PLC acquired a new position in Arqit Quantum in the 4th quarter valued at approximately $39,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Arqit Quantum during the 1st quarter worth $40,000. Wells Fargo & Company MN acquired a new position in shares of Arqit Quantum during the 4th quarter worth $134,000. Finally, BIT Capital GmbH acquired a new position in shares of Arqit Quantum during the 4th quarter worth $207,000. 16.60% of the stock is owned by institutional investors and hedge funds.

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.