Arqit Quantum (NASDAQ:ARQQ) Price Target Raised to $52.00

Arqit Quantum (NASDAQ:ARQQ) had its target price boosted by HC Wainwright from $27.00 to $52.00 in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Arqit Quantum Trading Down 2.1 %

ARQQ opened at $38.02 on Tuesday. Arqit Quantum has a 52-week low of $3.72 and a 52-week high of $52.79. The company has a 50 day moving average of $19.59 and a two-hundred day moving average of $11.69.

Institutional Trading of Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new position in Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 reporting period. Institutional investors and hedge funds 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.