Arqit Quantum (NASDAQ:ARQQ) Trading Up 0.9% - Still a Buy?

Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report)'s share price shot up 0.9% during trading on Monday . The company traded as high as $15.72 and last traded at $15.29. 184,012 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 374,037 shares. The stock had previously closed at $15.15.

Arqit Quantum Price Performance

The company's 50-day moving average price is $14.69 and its 200-day moving average price is $17.92.

Institutional Trading of Arqit Quantum

A number of hedge funds and other institutional investors have recently modified their holdings of ARQQ. Veracity Capital LLC acquired a new stake in shares of Arqit Quantum during the 4th quarter worth about $420,000. Wolverine Asset Management LLC acquired a new stake in shares of Arqit Quantum during the fourth quarter worth about $166,000. SBI Securities Co. Ltd. purchased a new position in shares of Arqit Quantum in the fourth quarter valued at approximately $937,000. Virtu Financial LLC acquired a new position in shares of Arqit Quantum in the fourth quarter valued at approximately $231,000. Finally, BIT Capital GmbH purchased a new stake in Arqit Quantum during the 4th quarter worth approximately $207,000. 16.60% of the stock is owned by institutional investors and hedge funds.

Arqit Quantum Company Profile

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.