Arqit Quantum (NASDAQ:ARQQ) Stock Price Down 3.9% – Time to Sell?

by · The Cerbat Gem

Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) fell 3.9% on Monday . The stock traded as low as $35.14 and last traded at $41.01. 452,703 shares were traded during trading, an increase of 123% from the average session volume of 203,248 shares. The stock had previously closed at $42.69.

Wall Street Analyst Weigh In

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.

View Our Latest Research Report on Arqit Quantum

Arqit Quantum Stock Down 10.3 %

The company’s fifty day moving average is $18.34 and its 200-day moving average is $11.31.

Hedge Funds Weigh In On Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned approximately 0.06% of Arqit Quantum as of its most recent filing with the Securities and Exchange Commission. 16.60% of the stock is currently owned by hedge funds and other institutional investors.

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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