Market Analysts see Arqit Quantum Inc. [ARQQ] gaining to $7. Time to buy?

Arqit Quantum Inc. [NASDAQ: ARQQ] traded at a high on 09/12/22, posting a 38.10 gain after which it closed the day’ session at $7.72. The company report on September 8, 2022 that Arqit Quantum Inc. to participate in H.C. Wainwright Investment Conference.


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Arqit Quantum Inc. (NASDAQ: ARQQ, ARQQW) (“Arqit”), a global leader in quantum encryption technology, announced today that David Williams, Founder, Chairman and CEO, will present during the H.C. Wainwright 24th Annual Global Investment Conference on Monday, September 12th, at 2:00 p.m. ET.

A live webcast of the session will be available to the public through a link on the Investor Relations Calendar of Arqit’s website (https://ir.arqit.uk/investors/news-events/ir-calendar). A replay of the webcast will be available in the Past Events section of Arqit’s Investor Relations Calendar.

The results of the trading session contributed to over 7816158 shares changing hands. Over the past one week, the price volatility of Arqit Quantum Inc. stands at 19.36% while the volatility over the past one month is 11.40%.

The market cap for ARQQ stock reached $941.27 million, with 121.93 million shares outstanding and 24.73 million shares in the current float. Compared to the average trading volume of 122.84K shares, ARQQ reached a trading volume of 7816158 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Arqit Quantum Inc. [ARQQ]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARQQ shares is $12.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARQQ stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Deutsche Bank have made an estimate for Arqit Quantum Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 19, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on April 26, 2022, representing the official price target for Arqit Quantum Inc. stock.

The Average True Range (ATR) for Arqit Quantum Inc. is set at 0.71, with the Price to Sales ratio for ARQQ stock in the period of the last 12 months amounting to 76.53.

How has ARQQ stock performed recently?

Arqit Quantum Inc. [ARQQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.52. With this latest performance, ARQQ shares gained by 29.31% in over the last four-week period, additionally sinking by -39.31% over the last 6 months – not to mention a drop of -49.24% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARQQ stock in for the last two-week period is set at 66.79, with the RSI for the last a single of trading hit 72.48, and the three-weeks RSI is set at 62.22 for Arqit Quantum Inc. [ARQQ]. The present Moving Average for the last 50 days of trading for this stock 5.89, while it was recorded at 6.03 for the last single week of trading, and 12.37 for the last 200 days.

Insider trade positions for Arqit Quantum Inc. [ARQQ]

There are presently around $20 million, or 2.90% of ARQQ stock, in the hands of institutional investors. The top three institutional holders of ARQQ stocks are: FIRST TRUST ADVISORS LP with ownership of 1,334,903, which is approximately -26.127% of the company’s market cap and around 79.72% of the total institutional ownership; JPMORGAN CHASE & CO, holding 293,441 shares of the stock with an approximate value of $2.27 million in ARQQ stocks shares; and STIFEL FINANCIAL CORP, currently with $1.28 million in ARQQ stock with ownership of nearly -49.439% of the company’s market capitalization.

19 institutional holders increased their position in Arqit Quantum Inc. [NASDAQ:ARQQ] by around 684,501 shares. Additionally, 20 investors decreased positions by around 1,809,317 shares, while 3 investors held positions by with 87,286 shares. The mentioned changes placed institutional holdings at 2,581,104 shares, according to the latest SEC report filing. ARQQ stock had 8 new institutional investments in for a total of 282,474 shares, while 11 institutional investors sold positions of 970,569 shares during the same period.

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