Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) - HC Wainwright decreased their FY2024 earnings per share estimates for shares of Arqit Quantum in a report released on Wednesday, May 15th. HC Wainwright analyst S. Buck now forecasts that the company will earn ($0.19) per share for the year, down from their previous estimate of ($0.12). HC Wainwright currently has a "Buy" rating and a $2.00 target price on the stock. The consensus estimate for Arqit Quantum's current full-year earnings is ($0.12) per share.
Arqit Quantum Stock Up 10.9 %
ARQQ traded up $0.04 on Friday, hitting $0.44. The company had a trading volume of 3,333,642 shares, compared to its average volume of 1,496,163. The company's fifty day moving average price is $0.58 and its 200 day moving average price is $0.54. Arqit Quantum has a 1-year low of $0.39 and a 1-year high of $1.65.
Institutional Trading of Arqit Quantum
Institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC grew its position in shares of Arqit Quantum by 30.4% in the third quarter. Penserra Capital Management LLC now owns 2,220,814 shares of the company's stock valued at $1,321,000 after purchasing an additional 517,942 shares during the last quarter. Armistice Capital LLC acquired a new stake in Arqit Quantum in the 3rd quarter valued at approximately $1,773,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Arqit Quantum by 150.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,636,216 shares of the company's stock worth $1,724,000 after buying an additional 2,185,402 shares during the period. 16.60% of the stock is currently owned by institutional investors and hedge funds.
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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