FY2024 EPS Forecast for Arqit Quantum Decreased by Analyst

Arqit Quantum Inc. (NASDAQ:ARQQ) – Equities researchers at HC Wainwright cut their FY2024 EPS estimates for shares of Arqit Quantum in a research note issued to investors on Wednesday, November 27th. HC Wainwright analyst S. Buck now forecasts that the company will post earnings of ($4.52) per share for the year, down from their prior forecast of ($4.25). The consensus estimate for Arqit Quantum’s current full-year earnings is ($4.52) per share. HC Wainwright also issued estimates for Arqit Quantum’s FY2025 earnings at ($1.53) EPS.

Arqit Quantum Stock Up 24.7 %

ARQQ opened at $26.96 on Monday. The company has a fifty day moving average price of $8.28 and a two-hundred day moving average price of $8.44. Arqit Quantum has a 1-year low of $3.72 and a 1-year high of $32.50.

Institutional Trading of 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 2nd quarter, according to its most recent 13F filing with the SEC. 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. Hedge funds and other institutional investors own 16.60% of the company’s stock.

Arqit Quantum Company Profile

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.