Shares of Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) traded down 6.4% during trading on Friday . The company traded as low as $5.22 and last traded at $5.24. 47,009 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 52,772 shares. The stock had previously closed at $5.60.
Analysts Set New Price Targets
Separately, HC Wainwright reiterated a “buy” rating and issued a $2.00 price objective on shares of Arqit Quantum in a report on Thursday, July 11th.
Read Our Latest Stock Analysis on Arqit Quantum
Arqit Quantum Stock Down 8.0 %
Institutional Trading of Arqit Quantum
A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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. 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.
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