Arqit Quantum (NASDAQ:ARQQ) Trading 4.7% Higher – What’s Next?

by · The Cerbat Gem

Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report)’s share price shot up 4.7% during mid-day trading on Tuesday . The company traded as high as $4.28 and last traded at $4.25. 8,321 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 54,550 shares. The stock had previously closed at $4.06.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.00 price target on shares of Arqit Quantum in a research note on Thursday, July 11th.

Get Our Latest Stock Analysis on ARQQ

Arqit Quantum Price Performance

The firm has a 50-day moving average price of $1.69 and a 200 day moving average price of $0.86.

Hedge Funds Weigh In On Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum as of its most recent filing with the SEC. 16.60% of the stock is owned by institutional investors and hedge funds.

Arqit Quantum Company Profile

(Get Free Report)

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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