Analysts Set Expectations for Arqit Quantum FY2024 Earnings

Arqit Quantum Inc. (NASDAQ:ARQQ) – Equities researchers at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for Arqit Quantum in a research note issued to investors on Wednesday, November 27th. HC Wainwright analyst S. Buck now forecasts that the company will earn ($4.52) per share for the year, down from their previous forecast of ($4.25). The consensus estimate for Arqit Quantum’s current full-year earnings is ($4.52) per share. HC Wainwright also issued estimates for Arqit Quantum’s FY2025 earnings at ($1.53) EPS.

Arqit Quantum Stock Up 8.2 %

NASDAQ:ARQQ opened at $21.62 on Monday. Arqit Quantum has a 52 week low of $3.72 and a 52 week high of $32.50. The firm’s fifty day moving average is $7.87 and its 200-day moving average is $8.33.

Institutional Trading of Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to its most recent Form 13F filing with the 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 at the end of the most recent reporting period. 16.60% of the stock is owned by hedge funds and other institutional investors.

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.