Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) traded down 4% during trading on Monday . The stock traded as low as $40.45 and last traded at $39.84. 458,096 shares were traded during trading, a decline of 38% from the average session volume of 739,495 shares. The stock had previously closed at $41.49.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on ARQQ. Weiss Ratings reissued a "sell (d)" rating on shares of Arqit Quantum in a research report on Wednesday, October 8th. HC Wainwright set a $60.00 target price on Arqit Quantum and gave the company a "buy" rating in a research note on Monday, October 13th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Arqit Quantum currently has an average rating of "Hold" and an average target price of $60.00.
Read Our Latest Report on ARQQ
Arqit Quantum Stock Performance
The company's 50 day moving average price is $37.41 and its two-hundred day moving average price is $30.28.
Hedge Funds Weigh In On Arqit Quantum
A number of hedge funds and other institutional investors have recently made changes to their positions in ARQQ. Penserra Capital Management LLC bought a new stake in shares of Arqit Quantum in the second quarter valued at about $26,376,000. Legal & General Group Plc purchased a new position in Arqit Quantum during the 2nd quarter valued at about $2,687,000. Raymond James Financial Inc. raised its holdings in shares of Arqit Quantum by 120.6% in the 2nd quarter. Raymond James Financial Inc. now owns 45,397 shares of the company's stock valued at $1,681,000 after purchasing an additional 24,822 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Arqit Quantum by 17.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 36,590 shares of the company's stock worth $1,355,000 after purchasing an additional 5,445 shares during the period. Finally, Virtu Financial LLC boosted its stake in shares of Arqit Quantum by 440.7% during 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. Institutional investors own 16.60% of the company's stock.
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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