Arqit Quantum (ARQQ) Projected to Post Quarterly Earnings on Tuesday

Arqit Quantum (NASDAQ:ARQQ) is anticipated to release its results before the market opens on Tuesday, March 10th. Analysts expect Arqit Quantum to post earnings of ($0.92) per share and revenue of $0.47 million for the quarter.

Arqit Quantum Trading Down 3.2%

NASDAQ ARQQ opened at $15.41 on Friday. The business’s 50-day moving average price is $20.92 and its two-hundred day moving average price is $29.59. Arqit Quantum has a 12 month low of $11.00 and a 12 month high of $62.00.

Wall Street Analyst Weigh In

ARQQ has been the topic of a number of recent analyst reports. Wall Street Zen lowered Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “sell (d)” rating on shares of Arqit Quantum in a report on Wednesday, January 21st. Finally, HC Wainwright restated a “buy” rating on shares of Arqit Quantum in a research report on Thursday, December 18th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.00.

Institutional Investors Weigh In On Arqit Quantum

Several large investors have recently added to or reduced their stakes in ARQQ. Legal & General Group Plc boosted its holdings in shares of Arqit Quantum by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 75,771 shares of the company’s stock worth $2,936,000 after buying an additional 3,205 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Arqit Quantum during the second quarter valued at about $122,000. Wells Fargo & Company MN grew its stake in shares of Arqit Quantum by 304.9% in the 4th quarter. Wells Fargo & Company MN now owns 10,195 shares of the company’s stock valued at $223,000 after buying an additional 7,677 shares during the period. Royal Bank of Canada raised its stake in Arqit Quantum by 222.9% during the 1st quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock worth $284,000 after buying an additional 14,186 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Arqit Quantum by 86.6% in the third quarter. Raymond James Financial Inc. now owns 84,713 shares of the company’s stock valued at $3,283,000 after acquiring an additional 39,316 shares during the period. Institutional investors and hedge funds own 16.60% of the company’s stock.

Arqit Quantum Company Profile

Arqit Quantum Inc is a UK‐based cybersecurity company specializing in quantum-safe encryption solutions designed to protect sensitive data from current and emerging cyber threats. The company’s core technology leverages principles of quantum physics to generate and distribute encryption keys in a way that remains impervious to attacks, including those enabled by future quantum computers. Arqit’s platform is designed to integrate with existing IT infrastructures without requiring hardware upgrades, offering end‐to‐end data protection for enterprises, governments and critical infrastructure providers.

The company’s flagship QuantumCloud platform uses a patented key distribution architecture to deliver symmetrical keys to endpoints across distributed networks.