Arqit Quantum (NASDAQ:ARQQ) Trading Up 1.2% – What’s Next?

Arqit Quantum Inc. (NASDAQ:ARQQ) shot up 1.2% during trading on Monday . The stock traded as high as $31.80 and last traded at $30.88. 651,115 shares were traded during trading, an increase of 254% from the average session volume of 183,998 shares. The stock had previously closed at $30.50.

Analysts Set New Price Targets

Separately, HC Wainwright raised their target price on shares of Arqit Quantum from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

Arqit Quantum Trading Down 5.8 %

The business’s fifty day moving average price is $14.56 and its 200-day moving average price is $10.12.

Institutional Investors Weigh In On Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter. Institutional investors 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.