Arqit Quantum (NASDAQ:ARQQ) Receives Buy Rating from HC Wainwright

Arqit Quantum (NASDAQ:ARQQGet Free Report)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $2.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 463.70% from the stock’s previous close.

Arqit Quantum Stock Performance

ARQQ opened at $0.35 on Thursday. Arqit Quantum has a fifty-two week low of $0.30 and a fifty-two week high of $1.50. The company’s 50-day moving average is $0.37 and its 200 day moving average is $0.50.

Institutional Investors Weigh In On Arqit Quantum

A hedge fund recently raised its stake in Arqit Quantum stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Arqit Quantum Inc. (NASDAQ:ARQQFree Report) by 150.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,636,216 shares of the company’s stock after acquiring an additional 2,185,402 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 2.22% of Arqit Quantum worth $1,724,000 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

(Get Free Report)

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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