Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) fell 0.6% during mid-day trading on Thursday . The company traded as low as $36.12 and last traded at $38.61. 260,428 shares changed hands during trading, an increase of 25% from the average session volume of 208,079 shares. The stock had previously closed at $38.84.
Analysts Set New Price Targets
Separately, HC Wainwright raised their target price on Arqit Quantum from $27.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday.
Read Our Latest Stock Report on ARQQ
Arqit Quantum Trading Down 2.1 %
The firm's 50-day moving average price is $19.59 and its two-hundred day moving average price is $11.69.
Institutional Trading of Arqit Quantum
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 100,000 shares of the company's stock, valued at approximately $34,000. Cowen AND Company LLC owned approximately 0.06% of Arqit Quantum as of its most recent SEC filing. Institutional investors and hedge funds own 16.60% of the company's stock.
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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