Arqit Quantum (NASDAQ:ARQQ) Trading Down 5% – Should You Sell?

Arqit Quantum Inc. (NASDAQ:ARQQ) shares fell 5% during trading on Friday . The stock traded as low as $7.03 and last traded at $7.03. 99,916 shares traded hands during trading, an increase of 56% from the average session volume of 64,017 shares. The stock had previously closed at $7.40.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Arqit Quantum in a research report on Thursday, July 11th.

Arqit Quantum Stock Down 4.7 %

The firm has a fifty day moving average of $6.59 and a 200-day moving average of $8.67.

Institutional Investors Weigh In On Arqit Quantum

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