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

Arqit Quantum Inc. (NASDAQ:ARQQ)’s stock price was down 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 traded hands during trading, an increase of 101% from the average daily volume of 1,142,420 shares. The stock had previously closed at $28.28.

Analysts Set New Price Targets

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

Arqit Quantum Trading Up 8.8 %

The business has a fifty day moving average of $24.46 and a 200-day moving average of $13.33.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Veracity Capital LLC acquired a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 10,804 shares of the company’s stock, valued at approximately $420,000. Veracity Capital LLC owned approximately 0.09% of Arqit Quantum as of its most recent filing with the SEC. 16.60% of the stock is owned by institutional investors and hedge funds.

Arqit Quantum Company Profile

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.