Arqit Quantum (NASDAQ:ARQQ - Get Free Report) had its price objective lifted by HC Wainwright from $27.00 to $52.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 33.88% from the company's previous close.
Arqit Quantum Stock Down 10.3 %
ARQQ stock traded down $4.48 during midday trading on Tuesday, hitting $38.84. 594,233 shares of the stock traded hands, compared to its average volume of 208,079. The stock's fifty day simple moving average is $17.71 and its 200-day simple moving average is $11.11. Arqit Quantum has a 1-year low of $3.72 and a 1-year high of $52.79.
Institutional Investors Weigh In On Arqit Quantum
A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new position in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 100,000 shares of the company's stock, valued at approximately $34,000. Cowen AND Company LLC owned approximately 0.06% of Arqit Quantum at the end of the most recent reporting period. 16.60% of the stock is owned by institutional investors.
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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