Arqit Quantum Stock Set to Reverse Split on Wednesday, September 25th (NASDAQ:ARQQ)

Arqit Quantum Inc. (NASDAQ:ARQQ)’s stock is set to reverse split before the market opens on Wednesday, September 25th. The 1-25 reverse split was announced on Thursday, September 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, September 24th.

Arqit Quantum Stock Performance

Shares of NASDAQ:ARQQ opened at $0.24 on Friday. The firm has a 50 day simple moving average of $0.33 and a 200-day simple moving average of $0.43. Arqit Quantum has a twelve month low of $0.23 and a twelve month high of $0.92.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to its most recent Form 13F filing 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 quarter. 16.60% of the stock is owned by institutional investors.

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.