Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) shares traded down 3.6% on Tuesday . The company traded as low as $35.61 and last traded at $37.60. 262,635 shares were traded during trading, a decline of 67% from the average session volume of 784,642 shares. The stock had previously closed at $39.00.
Wall Street Analyst Weigh In
Separately, HC Wainwright upped their target price on shares of Arqit Quantum from $27.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, December 31st.
Read Our Latest Report on Arqit Quantum
Arqit Quantum Stock Performance
The firm has a 50 day moving average of $20.88 and a 200-day moving average of $12.17.
Institutional Trading of Arqit Quantum
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 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 reporting period. 16.60% of the stock is 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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