Arqit Quantum's (ARQQ) Sell (D) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating for Arqit Quantum (NASDAQ:ARQQ), indicating continued negative sentiment from stock analysts.
• Despite the sell rating from Weiss, HC Wainwright has issued a "buy" rating with a target price of $52.00, reflecting a divergence in analyst opinions.
• Arqit Quantum has seen significant trading activity, with a 1-year trading range between $3.75 and $62.00, and hedge funds holding approximately 16.60% of the company's stock.

Arqit Quantum (NASDAQ:ARQQ - Get Free Report)'s stock had its "sell (d)" rating restated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, HC Wainwright reissued a "buy" rating and set a $52.00 target price on shares of Arqit Quantum in a research note on Thursday, September 18th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.00.

Arqit Quantum Price Performance

NASDAQ:ARQQ traded down $1.02 during mid-day trading on Wednesday, hitting $54.21. The company's stock had a trading volume of 1,155,973 shares, compared to its average volume of 720,152. Arqit Quantum has a 1 year low of $3.75 and a 1 year high of $62.00. The business's fifty day moving average is $34.68 and its two-hundred day moving average is $28.22.

Hedge Funds Weigh In On Arqit Quantum

A number of hedge funds have recently made changes to their positions in ARQQ. SBI Securities Co. Ltd. boosted its position in Arqit Quantum by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 31,145 shares of the company's stock valued at $432,000 after buying an additional 7,032 shares during the period. Virtu Financial LLC raised its holdings in shares of Arqit Quantum by 440.7% in the 1st 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. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Arqit Quantum in the 1st quarter valued at $40,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Arqit Quantum in the 1st quarter valued at $146,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Arqit Quantum in the 2nd quarter valued at $268,000. Hedge funds and other institutional investors own 16.60% of the company's stock.

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.

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