Arqit Quantum Inc. (NASDAQ:ARQQ) does about 724.23K shares in volume on a normal day but saw 1616489 shares change hands in Monday trading. The company now has a market cap of 256.36M USD. Its current market price is $2.08, marking a decrease of -0.48% compared to the previous close of $2.09. The 52 week high reached by this stock is $18.28 whilst the lowest price level in 52 weeks is $1.99. The script in recent trading has seen the stock touch a high of $2.20 and a low of $2.00.
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Arqit Quantum Inc. (ARQQ) has a 20-day trading average at $3.00 and the current price is -88.62% off the 52-week high compared with 4.52% distance from its 52-week low. The 50-day simple moving average of the closing price is $5.43 and its 200-day simple moving average is $6.34. If we look at the stock’s price movements over the week, volatility stands at 15.70%, which decreases to 12.99% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 25.31 to suggest the stock is oversold.
2 analysts observing the Arqit Quantum Inc. (ARQQ) stock have set the 12-month price targets for the company’s shares at between $3.50 and $14.00. The consensus objective for the share price is $10.83, suggesting that the stock has a potential upside of 80.79% over the period. The median price target is 76.23% away from the current levels at $8.75.
FactSet Research has provided data showing that 2 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 19, 2022 when Deutsche Bank initiated the stock to “Hold” and issued a price target of $7.
The current price level is -33.24%, -62.81%, and -67.52% away from its SMA20, SMA50, and SMA200 respectively, with the ARQQ price moving above the 50-day SMA on January 23. Arqit Quantum Inc. (ARQQ) stock is down -24.64% over the week and -50.71% over the past month. Its price is -42.38% year-to-date and -87.99% over the past year.
Its 12-month price target is $8.75. To reach the target analysts have set, the stock logically needs to grow 80.79 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.50, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $14.00.
Outstanding shares total 121.93M with insiders holding 79.72% of the shares and institutional holders owning 2.40% of the company’s common stock. The price to earnings ratio (P/E ratio) amounts to 4.52 while the forward price to earnings ratio is 13.87. Price to book ratio is 4.52 and price to sales ratio is 35.55.
According to a U.S. Securities and Exchange Commission filing, Global X Cyber Security ETF has reduced its position in Arqit Quantum Inc. (ARQQ) to 4,143,161 shares, mirroring a recent drop by -0.47%. Global X Cyber Security ETF dumped 19368.0 shares of Arqit Quantum Inc. common stock bringing its total worth to about $14.96 million at the end of recent close, SEC documents show. Global X Cyber Security ETF isn’t the only investment manager who changed stakes and is followed by First Trust NASDAQ Cybersecurity, which sold off 1983.0 shares to end up with 1,532,818 shares worth $5.53 million.
