HC Wainwright Reduces Earnings Estimates for Arqit Quantum

Posted by James Nelson on Dec 4th, 2024

Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) – Investment analysts at HC Wainwright cut their FY2024 earnings per share estimates for 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 previous estimate 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 Stock Performance

ARQQ opened at $26.96 on Monday. The company’s 50 day moving average is $8.28 and its 200-day moving average is $8.44. Arqit Quantum has a 1-year low of $3.72 and a 1-year high of $32.50.

Institutional Trading of Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter. 16.60% of the stock is currently owned by institutional investors.

Arqit Quantum Company Profile

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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.