Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) shares gapped up before the market opened on Tuesday after HC Wainwright raised their price target on the stock from $27.00 to $52.00. The stock had previously closed at $43.32, but opened at $44.89. HC Wainwright currently has a buy rating on the stock. Arqit Quantum shares last traded at $43.05, with a volume of 168,960 shares changing hands.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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. Institutional investors and hedge funds own 16.60% of the company's stock.
Arqit Quantum Stock Down 10.3 %
The stock's 50 day simple moving average is $18.34 and its 200 day simple moving average is $11.31.
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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