Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report)'s share price traded down 5.8% on Wednesday . The company traded as low as $26.10 and last traded at $29.13. 616,000 shares traded hands during mid-day trading, an increase of 228% from the average session volume of 187,723 shares. The stock had previously closed at $30.93.
Analyst Upgrades and Downgrades
Separately, HC Wainwright raised their target price on Arqit Quantum from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, December 6th.
Read Our Latest Report on ARQQ
Arqit Quantum Price Performance
The stock has a 50-day moving average price of $15.05 and a 200 day moving average price of $10.26.
Institutional Trading of Arqit Quantum
A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 currently owned by institutional investors.
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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