Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report)'s share price was up 9.9% during trading on Monday . The company traded as high as $6.80 and last traded at $6.53. Approximately 23,605 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 57,477 shares. The stock had previously closed at $5.94.
Analysts Set New Price Targets
Separately, HC Wainwright reiterated a "buy" rating and issued a $2.00 target price on shares of Arqit Quantum in a report on Thursday, July 11th.
View Our Latest Research Report on ARQQ
Arqit Quantum Trading Up 19.2 %
The firm's 50-day moving average price is $1.91 and its 200 day moving average price is $0.93.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the company's stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum at the end of the most recent quarter. 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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