Arqit Quantum (NASDAQ:ARQQ) Shares Gap Up to $5.02

Shares of Arqit Quantum Inc. (NASDAQ:ARQQ) gapped up before the market opened on Monday . The stock had previously closed at $5.02, but opened at $5.45. Arqit Quantum shares last traded at $5.65, with a volume of 34,822 shares.

Analysts Set New Price Targets

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

Arqit Quantum Trading Up 12.0 %

The firm has a fifty day moving average of $0.60 and a 200 day moving average of $0.51.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 & Exchange Commission. Institutional investors and hedge funds 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.