Arqit Quantum (NASDAQ:ARQQ) Shares Gap Up to $5.97

Arqit Quantum Inc. (NASDAQ:ARQQGet Rating) shares gapped up prior to trading on Tuesday . The stock had previously closed at $5.97, but opened at $6.36. Arqit Quantum shares last traded at $6.13, with a volume of 249 shares trading hands.

Separately, HC Wainwright began coverage on Arqit Quantum in a report on Tuesday, April 26th. They set a “buy” rating and a $16.00 price objective for the company.

The business has a fifty day moving average price of $7.95 and a 200 day moving average price of $14.19.

A number of institutional investors have recently made changes to their positions in ARQQ. Advisor Group Holdings Inc. purchased a new position in Arqit Quantum in the 3rd quarter valued at about $25,000. Royal Bank of Canada bought a new position in shares of Arqit Quantum during the third quarter worth about $40,000. Morgan Stanley bought a new position in shares of Arqit Quantum during the third quarter worth about $181,000. Truist Financial Corp bought a new position in shares of Arqit Quantum during the first quarter worth about $211,000. Finally, Jane Street Group LLC acquired a new stake in Arqit Quantum during the third quarter worth about $386,000. 7.54% of the stock is owned by hedge funds and other institutional investors.

About Arqit Quantum (NASDAQ:ARQQ)

Arqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud that enables any device to download a lightweight software agent, which can create encryption keys in partnership with any other device. The company is based in London, the United Kingdom.

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