Arqit Quantum (NASDAQ:ARQQ) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arqit Quantum (NASDAQ:ARQQ) in a research note released on Thursday morning,Benzinga reports. They currently have a $52.00 price target on the stock.

Arqit Quantum Price Performance

Shares of ARQQ opened at $37.40 on Thursday. Arqit Quantum has a 1 year low of $3.72 and a 1 year high of $52.79. The firm has a fifty day moving average of $33.54 and a 200-day moving average of $25.61.

Hedge Funds Weigh In On Arqit Quantum

Several hedge funds and other institutional investors have recently modified their holdings of ARQQ. Allworth Financial LP boosted its holdings in shares of Arqit Quantum by 53.8% during the second quarter. Allworth Financial LP now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Arqit Quantum during the first quarter valued at about $40,000. Quantbot Technologies LP bought a new stake in shares of Arqit Quantum during the second quarter valued at about $122,000. Hussman Strategic Advisors Inc. bought a new stake in shares of Arqit Quantum during the first quarter valued at about $146,000. Finally, Veracity Capital LLC raised its stake in shares of Arqit Quantum by 14.3% during the first quarter. Veracity Capital LLC now owns 12,351 shares of the company’s stock valued at $171,000 after purchasing an additional 1,547 shares in the last quarter. 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.