Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report)'s stock price traded down 34.8% during mid-day trading on Wednesday . The company traded as low as $21.88 and last traded at $23.27. 939,625 shares changed hands during trading, an increase of 9% from the average session volume of 861,583 shares. The stock had previously closed at $35.70.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright upped their target price on shares of Arqit Quantum from $27.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday, December 31st.
Read Our Latest Stock Report on Arqit Quantum
Arqit Quantum Price Performance
The company's fifty day moving average is $21.45 and its two-hundred day moving average is $12.37.
Hedge Funds Weigh In On Arqit Quantum
A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC acquired a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 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 filing with the Securities & Exchange Commission. Hedge funds and other 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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