Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) shares were up 13% during mid-day trading on Friday . The stock traded as high as $45.45 and last traded at $42.97. Approximately 626,126 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 621,500 shares. The stock had previously closed at $38.02.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright increased their price target on shares of Arqit Quantum from $27.00 to $52.00 and gave the company a "buy" rating in a research report on Tuesday.
View Our Latest Stock Report on Arqit Quantum
Arqit Quantum Stock Up 4.3 %
The company's 50 day simple moving average is $20.24 and its two-hundred day simple moving average is $11.90.
Institutional Trading of Arqit Quantum
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC bought a new position in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 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. 16.60% of the stock is currently owned by hedge funds and other institutional investors.
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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