Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) traded down 8.9% during trading on Thursday . The company traded as low as $5.71 and last traded at $6.16. 43,359 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 56,480 shares. The stock had previously closed at $6.76.
Wall Street Analyst Weigh In
Separately, HC Wainwright reaffirmed a "buy" rating and set a $2.00 price objective on shares of Arqit Quantum in a report on Thursday, July 11th.
Read Our Latest Stock Analysis on ARQQ
Arqit Quantum Trading Down 12.7 %
The firm's 50-day moving average price is $1.69 and its 200-day moving average price is $0.86.
Hedge Funds Weigh In On Arqit Quantum
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC acquired a new position in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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 reporting period. 16.60% of the stock is currently owned by institutional investors and hedge funds.
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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