Arqit Quantum (NASDAQ:ARQQ) Shares Gap Up – Here’s What Happened

Arqit Quantum Inc. (NASDAQ:ARQQ)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $7.08, but opened at $8.04. Arqit Quantum shares last traded at $8.55, with a volume of 356,201 shares trading hands.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $2.00 target price on shares of Arqit Quantum in a research note on Thursday, July 11th.

Arqit Quantum Price Performance

The firm’s 50-day simple moving average is $2.05 and its 200 day simple moving average is $0.98.

Institutional Trading of Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned about 0.06% of Arqit Quantum as of its most recent SEC filing. Institutional investors 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.