Arqit Quantum (NASDAQ:ARQQ) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Arqit Quantum Inc. (NASDAQ:ARQQ) saw unusually-high trading volume on Wednesday . Approximately 50,184 shares changed hands during trading, a decline of 9% from the previous session’s volume of 54,981 shares.The stock last traded at $5.60 and had previously closed at $4.83.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $2.00 price objective on shares of Arqit Quantum in a research report on Thursday, July 11th.

Arqit Quantum Stock Performance

The firm’s 50-day moving average price is $1.80 and its 200-day moving average price is $0.89.

Institutional Investors 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 Arqit Quantum Inc. (NASDAQ:ARQQ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned about 0.06% of Arqit Quantum as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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.