Arqit Quantum (NASDAQ:ARQQ) Sees Large Volume Increase – Here’s Why

Arqit Quantum Inc. (NASDAQ:ARQQ) saw unusually-high trading volume on Wednesday . Approximately 42,033 shares changed hands during trading, a decline of 32% from the previous session’s volume of 61,958 shares.The stock last traded at $8.14 and had previously closed at $7.34.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Arqit Quantum in a research note on Thursday, July 11th.

Arqit Quantum Trading Up 0.5 %

The company’s fifty day simple moving average is $6.59 and its two-hundred day simple moving average is $8.67.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC bought a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 quarter. 16.60% of the stock is currently owned by institutional investors.

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.