Arqit Quantum (NASDAQ:ARQQ) Sees Unusually-High Trading Volume – Still a Buy?

Arqit Quantum Inc. (NASDAQ:ARQQ) shares saw unusually-strong trading volume on Friday . Approximately 228,999 shares were traded during mid-day trading, a decline of 47% from the previous session’s volume of 430,383 shares.The stock last traded at $43.75 and had previously closed at $38.02.

Analysts Set New Price Targets

Separately, HC Wainwright boosted their price target on shares of Arqit Quantum from $27.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st.

Arqit Quantum Price Performance

The stock’s 50-day simple moving average is $20.24 and its 200 day simple moving average is $11.90.

Institutional Investors Weigh In On Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned approximately 0.06% of Arqit Quantum as of its most recent filing with the Securities and Exchange Commission (SEC). 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.