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

Arqit Quantum Inc. (NASDAQ:ARQQ) saw unusually-high trading volume on Wednesday . Approximately 42,033 shares changed hands during mid-day 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 reiterated a “buy” rating and set a $50.00 price objective on shares of Arqit Quantum in a research report on Thursday, July 11th.

Arqit Quantum Stock Up 3.7 %

The company has a 50-day moving average price of $2.19 and a 200 day moving average price of $1.03.

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 stake in Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum as of its most recent SEC filing. 16.60% of the stock is owned by hedge funds and other 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.