Arqit Quantum (NASDAQ:ARQQ) Trading Down 5.3% – What’s Next?

Shares of Arqit Quantum Inc. (NASDAQ:ARQQGet Free Report) dropped 5.3% during mid-day trading on Monday . The company traded as low as $25.69 and last traded at $26.77. Approximately 2,298,499 shares changed hands during mid-day trading, an increase of 101% from the average daily volume of 1,142,420 shares. The stock had previously closed at $28.28.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their target price on shares of Arqit Quantum from $27.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st.

Get Our Latest Research Report on Arqit Quantum

Arqit Quantum Price Performance

The company has a 50-day simple moving average of $24.09 and a two-hundred day simple moving average of $13.20.

Hedge Funds Weigh In On Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Veracity Capital LLC acquired a new position in Arqit Quantum Inc. (NASDAQ:ARQQFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,804 shares of the company’s stock, valued at approximately $420,000. Veracity Capital LLC owned 0.09% of Arqit Quantum as of its most recent filing with the Securities & Exchange Commission. 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.

See Also

Receive News & Ratings for Arqit Quantum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arqit Quantum and related companies with MarketBeat.com's FREE daily email newsletter.