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

Shares of Arqit Quantum Inc. (NASDAQ:ARQQ) gapped up before the market opened on Tuesday . The stock had previously closed at $7.00, but opened at $7.32. Arqit Quantum shares last traded at $7.19, with a volume of 29,356 shares changing hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated 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 7.1 %

The business has a fifty day moving average of $6.53 and a two-hundred day moving average of $8.51.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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. 16.60% of the stock is currently owned by hedge funds and other institutional investors.

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.