Arqit Quantum (NASDAQ:ARQQ) Shares Gap Up – What’s Next?

Arqit Quantum Inc. (NASDAQ:ARQQ)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $7.08, but opened at $8.04. Arqit Quantum shares last traded at $8.55, with a volume of 356,201 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Arqit Quantum in a research report on Thursday, July 11th.

Arqit Quantum Trading Up 0.3 %

The stock has a 50-day moving average of $6.59 and a 200 day moving average of $8.68.

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 position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned about 0.06% of Arqit Quantum as of its most recent filing with the Securities and Exchange Commission (SEC). 16.60% of the stock is currently owned by institutional investors.

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.