Shares of Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) traded down 8.9% on Thursday . The company traded as low as $5.71 and last traded at $6.16. 43,359 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 56,480 shares. The stock had previously closed at $6.76.
Analysts Set New Price Targets
Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.00 target price on shares of Arqit Quantum in a report on Thursday, July 11th.
Read Our Latest Research Report on ARQQ
Arqit Quantum Stock Down 12.0 %
Hedge Funds Weigh In On Arqit Quantum
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC acquired a new position in Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) in the second quarter, according to the company in its most recent 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 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.
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