Arqit Quantum (NASDAQ:ARQQ) Stock Price Down 3.3% – Time to Sell?

Arqit Quantum Inc. (NASDAQ:ARQQ)’s share price was down 3.3% during trading on Tuesday . The stock traded as low as $26.10 and last traded at $29.92. Approximately 369,220 shares changed hands during mid-day trading, an increase of 98% from the average daily volume of 186,470 shares. The stock had previously closed at $30.93.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their target price on shares of Arqit Quantum from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Arqit Quantum Stock Down 5.8 %

The business has a fifty day moving average price of $15.05 and a two-hundred day moving average price of $10.26.

Hedge Funds Weigh In On Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned approximately 0.06% of Arqit Quantum at the end of the most recent reporting period. Institutional investors and hedge funds own 16.60% of the company’s stock.

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.