Arqit Quantum Inc. [NASDAQ: ARQQ] closed the trading session at $10.26 on 11/08/22. The day’s price range saw the stock hit a low of $7.07, while the highest price level was $10.39. The company report on October 25, 2022 that Arqit partners with Nine23 to provide secure cloud services on G-Cloud 13 for UK Government.
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Nine23’s proprietary Platform FLEX provides a multi-private cloud environment with direct network gateway connectivity to all UK government networks including the PSN, PNN, RLI, HSCN and others. The proven, accredited platform offers data residency and solution integration that can be used for Official-Sensitive and higher classifications. Arqit and Nine23 will work together to address government and defence customers looking to improve the security of their infrastructure against cyberattacks, remove the vulnerabilities associated with legacy encryption method Public Key Infrastructure (PKI) and prevent data security threats posed by Quantum computers.
The stocks have a year to date performance of -57.16 percent and weekly performance of 126.99 percent. The stock has been moved at 81.27 percent over the last six months. The stock has performed 106.02 percent around the most recent 30 days and changed 81.59 percent over the most recent 3-months.
If compared to the average trading volume of 370.74K shares, ARQQ reached to a volume of 4246634 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 2.30. 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 0.77, with the Price to Sales ratio for ARQQ stock in the period of the last 12 months amounting to 101.02. The Price to Book ratio for the last quarter was 22.30, with the Price to Cash per share for the same quarter was set at 0.68.
ARQQ stock trade performance evaluation
Arqit Quantum Inc. [ARQQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 126.99. With this latest performance, ARQQ shares gained by 106.02% in over the last four-week period, additionally plugging by 81.27% over the last 6 months – not to mention a drop of -49.90% 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 86.46, with the RSI for the last a single of trading hit 93.94, and the three-weeks RSI is set at 79.02 for Arqit Quantum Inc. [ARQQ]. The present Moving Average for the last 50 days of trading for this stock 5.79, while it was recorded at 6.69 for the last single week of trading, and 8.87 for the last 200 days.
Arqit Quantum Inc. [ARQQ]: An insightful look at the core fundamentals
Arqit Quantum Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 4.90.
Arqit Quantum Inc. [ARQQ]: Insider Ownership positions
There are presently around $26 million, or 2.40% 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 $3.01 million in ARQQ stocks shares; and STIFEL FINANCIAL CORP, currently with $1.71 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 581,587 shares. Additionally, 17 investors decreased positions by around 1,176,701 shares, while 3 investors held positions by with 765,987 shares. The mentioned changes placed institutional holdings at 2,524,275 shares, according to the latest SEC report filing. ARQQ stock had 9 new institutional investments in for a total of 203,960 shares, while 6 institutional investors sold positions of 256,408 shares during the same period.