Arqit Quantum (NASDAQ:ARQQ) Sees Large Volume Increase – Time to Buy?

Arqit Quantum Inc. (NASDAQ:ARQQ) saw unusually-high trading volume on Friday . Approximately 228,999 shares were traded during trading, a decline of 47% from the previous session’s volume of 430,383 shares.The stock last traded at $43.75 and had previously closed at $38.02.

Analyst Ratings Changes

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 report on Tuesday.

Arqit Quantum Trading Up 11.7 %

The business has a fifty day moving average price of $19.59 and a two-hundred day moving average price of $11.69.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 the company in its most recent disclosure with the SEC. The firm 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 filing with the SEC. 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.