Traders Purchase Large Volume of Arqit Quantum Call Options (NASDAQ:ARQQ)

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of unusually large options trading on Monday. Traders acquired 2,702 call options on the stock. This represents an increase of approximately 453% compared to the typical volume of 489 call options.

Arqit Quantum Price Performance

NASDAQ:ARQQ opened at $20.28 on Wednesday. The stock’s 50 day simple moving average is $18.83 and its 200-day simple moving average is $15.99. Arqit Quantum has a 12-month low of $3.72 and a 12-month high of $52.79.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ARQQ. Quarry LP acquired a new position in Arqit Quantum during the fourth quarter worth $30,000. Barclays PLC acquired a new position in Arqit Quantum during the fourth quarter worth $39,000. Wells Fargo & Company MN acquired a new position in Arqit Quantum during the fourth quarter worth $134,000. Wolverine Asset Management LLC acquired a new position in Arqit Quantum during the fourth quarter worth $166,000. Finally, BIT Capital GmbH acquired a new stake in Arqit Quantum in the fourth quarter valued at $207,000. Institutional investors and hedge funds own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright boosted their price objective on Arqit Quantum from $27.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st.

About Arqit Quantum

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.