Arqit Quantum (NASDAQ:ARQQ) Hits New 52-Week Low at $5.17

Arqit Quantum Inc. (NASDAQ:ARQQ)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $5.17 and last traded at $5.17, with a volume of 45650 shares traded. The stock had previously closed at $6.25.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $2.00 price objective on shares of Arqit Quantum in a report on Thursday, July 11th.

Arqit Quantum Stock Performance

The company’s 50-day simple moving average is $0.32 and its 200 day simple moving average is $0.42.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC acquired a new position in Arqit Quantum Inc. (NASDAQ:ARQQ) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum at the end of the most recent reporting period. 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.