Arqit Quantum (NASDAQ:ARQQ) Given New $52.00 Price Target at HC Wainwright

Arqit Quantum (NASDAQ:ARQQ) had its price objective raised by investment analysts at HC Wainwright from $27.00 to $52.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 20.04% from the stock’s current price.

Arqit Quantum Stock Up 1.5 %

Shares of Arqit Quantum stock opened at $43.32 on Tuesday. The firm’s fifty day simple moving average is $17.71 and its 200-day simple moving average is $11.11. Arqit Quantum has a 12 month low of $3.72 and a 12 month high of $52.79.

Hedge Funds Weigh In On Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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 currently owned by institutional investors and hedge funds.

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.