Arqit Quantum (NASDAQ:ARQQ) Sets New 52-Week High – What’s Next?

Arqit Quantum Inc. (NASDAQ:ARQQ)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $44.48 and last traded at $43.83, with a volume of 1750511 shares traded. The stock had previously closed at $29.13.

Analyst Ratings Changes

Separately, HC Wainwright upped their price target on shares of Arqit Quantum from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, December 6th.

Arqit Quantum Trading Up 50.5 %

The company has a fifty day simple moving average of $15.50 and a 200 day simple moving average of $10.39.

Institutional Inflows and Outflows

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