Arqit Quantum (NASDAQ:ARQQ) Shares Gap Up to $5.59

Shares of Arqit Quantum Inc. (NASDAQ:ARQQGet Rating) gapped up prior to trading on Monday . The stock had previously closed at $5.59, but opened at $5.79. Arqit Quantum shares last traded at $6.05, with a volume of 2,351 shares.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Arqit Quantum in a report on Tuesday, July 19th. They issued a “hold” rating and a $7.00 price objective for the company.

Arqit Quantum Price Performance

The stock’s fifty day simple moving average is $5.92 and its two-hundred day simple moving average is $8.77.

Institutional Investors Weigh In On Arqit Quantum

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its holdings in Arqit Quantum by 4,755.6% in the 2nd quarter. US Bancorp DE now owns 12,139 shares of the company’s stock valued at $76,000 after acquiring an additional 11,889 shares during the last quarter. Millennium Management LLC lifted its holdings in Arqit Quantum by 176.6% in the 2nd quarter. Millennium Management LLC now owns 15,329 shares of the company’s stock valued at $97,000 after acquiring an additional 35,329 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Arqit Quantum in the 2nd quarter valued at about $158,000. Truist Financial Corp lifted its holdings in Arqit Quantum by 100.0% in the 2nd quarter. Truist Financial Corp now owns 27,040 shares of the company’s stock valued at $171,000 after acquiring an additional 13,520 shares during the last quarter. Finally, State Street Corp acquired a new stake in Arqit Quantum in the 2nd quarter valued at about $182,000. 2.15% of the stock is owned by institutional investors and hedge funds.

About Arqit Quantum

(Get Rating)

Arqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud that enables any device to download a lightweight software agent, which can create encryption keys in partnership with any other device. The company is based in London, the United Kingdom.

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