Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) shares were up 11% during mid-day trading on Friday . The stock traded as high as $42.66 and last traded at $43.34. Approximately 201,826 shares were traded during trading, a decline of 73% from the average daily volume of 740,364 shares. The stock had previously closed at $39.03.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on ARQQ shares. Weiss Ratings restated a "sell (d)" rating on shares of Arqit Quantum in a research report on Friday. HC Wainwright set a $60.00 target price on shares of Arqit Quantum and gave the stock a "buy" rating in a report on Monday, October 13th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $60.00.
View Our Latest Stock Analysis on ARQQ
Arqit Quantum Trading Up 12.2%
The stock has a fifty day moving average price of $37.77 and a two-hundred day moving average price of $30.74.
Institutional Investors Weigh In On Arqit Quantum
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Veracity Capital LLC raised its stake in shares of Arqit Quantum by 11.0% during the third quarter. Veracity Capital LLC now owns 13,020 shares of the company's stock valued at $505,000 after purchasing an additional 1,291 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Arqit Quantum during the 2nd quarter worth about $800,000. Raymond James Financial Inc. raised its holdings in Arqit Quantum by 120.6% during the second quarter. Raymond James Financial Inc. now owns 45,397 shares of the company's stock worth $1,681,000 after purchasing an additional 24,822 shares in the last quarter. Quantbot Technologies LP bought a new stake in Arqit Quantum during the second quarter worth approximately $122,000. Finally, Global Retirement Partners LLC bought a new stake in Arqit Quantum during the second quarter worth approximately $222,000. 16.60% of the stock is currently owned by institutional investors.
About Arqit Quantum
(
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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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