Arqit Quantum (NASDAQ:ARQQ) Shares Gap Down to $5.70

Arqit Quantum Inc. (NASDAQ:ARQQ)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $5.70, but opened at $4.97. Arqit Quantum shares last traded at $5.25, with a volume of 72,508 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $2.00 price objective on shares of Arqit Quantum in a research note on Thursday, July 11th.

Arqit Quantum Trading Down 15.8 %

The firm’s fifty day moving average is $0.71 and its 200-day moving average is $0.54.

Institutional Trading of Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC acquired a new position in Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 (SEC). Institutional investors and hedge funds own 16.60% of the company’s stock.

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.