Arqit Quantum (NASDAQ:ARQQ) Sees Unusually-High Trading Volume – Time to Buy?

by · The Markets Daily

Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 50,184 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 54,981 shares.The stock last traded at $5.60 and had previously closed at $4.83.

Analysts Set New Price Targets

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

Read Our Latest Analysis on Arqit Quantum

Arqit Quantum Price Performance

The business has a 50-day simple moving average of $1.56 and a two-hundred day simple moving average of $0.81.

Institutional Inflows and Outflows

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

About Arqit Quantum

(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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