FY2024 EPS Estimates for Arqit Quantum Decreased by Analyst

Arqit Quantum Inc. (NASDAQ:ARQQ) – Analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Arqit Quantum in a research report issued on Wednesday, November 27th. HC Wainwright analyst S. Buck now expects that the company will post earnings of ($4.52) per share for the year, down from their prior forecast of ($4.25). The consensus estimate for Arqit Quantum’s current full-year earnings is ($4.52) per share. HC Wainwright also issued estimates for Arqit Quantum’s FY2025 earnings at ($1.53) EPS.

Arqit Quantum Price Performance

Shares of ARQQ stock opened at $19.98 on Monday. Arqit Quantum has a 1-year low of $3.72 and a 1-year high of $23.00. The stock has a 50-day moving average of $7.55 and a 200-day moving average of $8.25.

Institutional Investors Weigh In On Arqit Quantum

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 second quarter, according to its most recent filing with the SEC. The firm 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. Hedge funds and other institutional investors 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.