Arqit Quantum Inc. (NASDAQ:ARQQ) Stock Position Increased by Biltmore Family Office LLC

Biltmore Family Office LLC boosted its position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) by 57.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,202 shares of the company’s stock after buying an additional 2,620 shares during the period. Biltmore Family Office LLC’s holdings in Arqit Quantum were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in Arqit Quantum in the 4th quarter valued at about $937,000. Veracity Capital LLC acquired a new stake in Arqit Quantum during the fourth quarter valued at approximately $420,000. CIBC Private Wealth Group LLC acquired a new stake in Arqit Quantum during the fourth quarter valued at approximately $388,000. Geode Capital Management LLC bought a new stake in Arqit Quantum during the fourth quarter worth approximately $280,000. Finally, Virtu Financial LLC acquired a new position in Arqit Quantum in the fourth quarter worth approximately $231,000. 16.60% of the stock is owned by institutional investors and hedge funds.

Arqit Quantum Price Performance

Shares of ARQQ opened at $13.86 on Thursday. The business’s 50-day moving average price is $17.15 and its 200 day moving average price is $16.63. Arqit Quantum Inc. has a 1-year low of $3.72 and a 1-year high of $52.79.

Wall Street Analysts Forecast Growth

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

Arqit Quantum 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.