Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) shot up 7.7% during trading on Friday . The stock traded as high as $39.98 and last traded at $40.28. 430,014 shares were traded during trading, a decline of 39% from the average session volume of 701,714 shares. The stock had previously closed at $37.40.
Wall Street Analyst Weigh In
Separately, HC Wainwright reaffirmed a "buy" rating and set a $52.00 price objective on shares of Arqit Quantum in a research note on Thursday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $52.00.
Read Our Latest Analysis on ARQQ
Arqit Quantum Stock Performance
The stock's 50 day moving average price is $33.77 and its 200-day moving average price is $26.20.
Institutional Trading of Arqit Quantum
Several institutional investors and hedge funds have recently made changes to their positions in ARQQ. Allworth Financial LP increased its holdings in shares of Arqit Quantum by 53.8% during the second quarter. Allworth Financial LP now owns 1,000 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Arqit Quantum in the 1st quarter worth approximately $40,000. Quantbot Technologies LP acquired a new position in Arqit Quantum in the 2nd quarter worth approximately $122,000. Global Retirement Partners LLC acquired a new position in Arqit Quantum in the 2nd quarter worth approximately $222,000. Finally, Biltmore Family Office LLC purchased a new stake in Arqit Quantum in the 2nd quarter worth approximately $253,000. 16.60% of the stock is currently owned by institutional investors.
About Arqit Quantum
(
Get Free Report)
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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