Arqit Quantum’s (ARQQ) “Buy” Rating Reiterated at HC Wainwright

Arqit Quantum (NASDAQ:ARQQ)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $2.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 454.02% from the company’s previous close.

Arqit Quantum Trading Up 11.5 %

ARQQ stock opened at $0.36 on Thursday. Arqit Quantum has a twelve month low of $0.30 and a twelve month high of $1.50. The business’s fifty day simple moving average is $0.37 and its two-hundred day simple moving average is $0.50.

Hedge Funds Weigh In On Arqit Quantum

A hedge fund recently raised its stake in Arqit Quantum stock. Mirae Asset Global Investments Co. Ltd. increased its position in Arqit Quantum Inc. (NASDAQ:ARQQ) by 150.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,636,216 shares of the company’s stock after purchasing an additional 2,185,402 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 2.22% of Arqit Quantum worth $1,724,000 as of its most recent SEC filing. 16.60% of the stock is currently 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.