Arqit Quantum (NASDAQ:ARQQ) Cut to “Sell” at Wall Street Zen
by Kim Johansen · The Markets DailyWall Street Zen lowered shares of Arqit Quantum (NASDAQ:ARQQ – Free Report) from a hold rating to a sell rating in a report published on Saturday.
Several other equities analysts have also recently weighed in on ARQQ. Weiss Ratings restated a “sell (d)” rating on shares of Arqit Quantum in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating on shares of Arqit Quantum in a report on Thursday, December 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Arqit Quantum presently has a consensus rating of “Hold” and a consensus target price of $60.00.
View Our Latest Analysis on ARQQ
Arqit Quantum Stock Performance
ARQQ stock opened at $26.60 on Friday. Arqit Quantum has a twelve month low of $11.00 and a twelve month high of $62.00. The stock’s 50 day moving average is $26.55 and its 200-day moving average is $33.70.
Institutional Trading of Arqit Quantum
A number of large investors have recently added to or reduced their stakes in ARQQ. Legal & General Group Plc bought a new stake in shares of Arqit Quantum in the 2nd quarter worth approximately $2,687,000. Biltmore Family Office LLC bought a new stake in shares of Arqit Quantum in the second quarter valued at $253,000. Penserra Capital Management LLC purchased a new position in shares of Arqit Quantum during the 2nd quarter valued at $26,376,000. Global Retirement Partners LLC purchased a new position in shares of Arqit Quantum during the 2nd quarter valued at $222,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of Arqit Quantum by 17.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 36,590 shares of the company’s stock worth $1,355,000 after acquiring an additional 5,445 shares during the period. Hedge funds and other institutional investors own 16.60% of the company’s stock.
About Arqit Quantum
Arqit Quantum Inc is a UK‐based cybersecurity company specializing in quantum-safe encryption solutions designed to protect sensitive data from current and emerging cyber threats. The company’s core technology leverages principles of quantum physics to generate and distribute encryption keys in a way that remains impervious to attacks, including those enabled by future quantum computers. Arqit’s platform is designed to integrate with existing IT infrastructures without requiring hardware upgrades, offering end‐to‐end data protection for enterprises, governments and critical infrastructure providers.
The company’s flagship QuantumCloud platform uses a patented key distribution architecture to deliver symmetrical keys to endpoints across distributed networks.