Arqit Quantum (NASDAQ:ARQQ - Get Free Report) had its price objective lifted by research analysts at HC Wainwright from $22.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 18.21% from the company's current price.
Arqit Quantum Stock Performance
Shares of Arqit Quantum stock traded up $0.45 during trading on Friday, reaching $22.84. The company had a trading volume of 727,050 shares, compared to its average volume of 679,418. Arqit Quantum has a fifty-two week low of $3.72 and a fifty-two week high of $32.50. The firm's fifty day moving average is $9.37 and its 200-day moving average is $8.74.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the second quarter, according to its most recent 13F 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 0.06% of Arqit Quantum as of its most recent SEC filing. Hedge funds and other institutional investors own 16.60% of the company's stock.
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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