Traders Purchase Large Volume of Arqit Quantum Call Options (NASDAQ:ARQQ)

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of some unusual options trading on Monday. Stock investors purchased 2,702 call options on the stock. This represents an increase of 453% compared to the average volume of 489 call options.

Arqit Quantum Stock Performance

Shares of NASDAQ:ARQQ opened at $20.28 on Wednesday. The business has a 50-day moving average of $18.83 and a two-hundred day moving average of $15.99. Arqit Quantum has a 12 month low of $3.72 and a 12 month high of $52.79.

Analyst Upgrades and Downgrades

Separately, HC Wainwright upped their price objective on Arqit Quantum from $27.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st.

Institutional Investors Weigh In On Arqit Quantum

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Arqit Quantum during the fourth quarter worth about $30,000. Barclays PLC acquired a new stake in shares of Arqit Quantum in the fourth quarter valued at about $39,000. Wells Fargo & Company MN acquired a new stake in shares of Arqit Quantum in the fourth quarter valued at about $134,000. Wolverine Asset Management LLC acquired a new stake in shares of Arqit Quantum in the fourth quarter valued at about $166,000. Finally, BIT Capital GmbH acquired a new stake in shares of Arqit Quantum in the fourth quarter valued at about $207,000. 16.60% of the stock is currently owned by institutional investors and hedge funds.

About Arqit Quantum

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.