HC Wainwright Issues Positive Forecast for Arqit Quantum (NASDAQ:ARQQ) Stock Price

Arqit Quantum (NASDAQ:ARQQ) had its price objective increased by HC Wainwright from $27.00 to $52.00 in a research report report published on Tuesday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Arqit Quantum Trading Down 2.1 %

Shares of ARQQ stock opened at $38.02 on Tuesday. The company’s fifty day moving average price is $19.59 and its two-hundred day moving average price is $11.69. Arqit Quantum has a 12 month low of $3.72 and a 12 month high of $52.79.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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 SEC filing. 16.60% of the stock is owned by institutional investors and hedge funds.

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.