Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) shares traded down 12.4% during mid-day trading on Monday . The company traded as low as $13.58 and last traded at $14.02. 421,650 shares traded hands during trading, a decline of 46% from the average session volume of 786,688 shares. The stock had previously closed at $16.00.
Analyst Upgrades and Downgrades
Separately, HC Wainwright raised their price target on Arqit Quantum from $27.00 to $52.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st.
View Our Latest Analysis on ARQQ
Arqit Quantum Price Performance
The firm's fifty day moving average price is $24.75 and its 200 day moving average price is $15.36.
Hedge Funds Weigh In On Arqit Quantum
A number of large investors have recently bought and sold shares of ARQQ. Jane Street Group LLC purchased a new position in shares of Arqit Quantum in the 4th quarter valued at $931,000. Quarry LP purchased a new position in Arqit Quantum in the fourth quarter valued at about $30,000. Marshall Wace LLP bought a new position in Arqit Quantum in the fourth quarter worth about $1,083,000. Barclays PLC bought a new position in Arqit Quantum in the fourth quarter worth about $39,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Arqit Quantum during the fourth quarter valued at about $420,000. Institutional investors own 16.60% of the company's stock.
Arqit Quantum Company Profile
(
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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