Arqit Quantum Inc. [NASDAQ: ARQQ] price plunged by -33.35 percent to reach at -$0.32. The company report on September 8, 2023 at 8:00 AM that Arqit Quantum Inc. Announces $16.2 Million Registered Direct Offering.
In addition, existing shareholders Heritage Assets SCSP, Ropemaker Nominees Limited and Carlo Calabria have agreed to purchase 7,935,164 Ordinary Shares, together with Warrants to purchase up to 7,935,164 Ordinary Shares at a combined offering price of $0.78 per Ordinary Share and accompanying Warrant. Arqit director Manfredi Lefebvre d’Ovidio has sole investment and voting power over the shares held by Heritage Assets SCSP, long-time Arqit shareholder Notion Capital is the beneficial owner of the Arqit shares held by Ropemaker Nominees Limited and Carlo Calabria is an Arqit director.
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A sum of 9571466 shares traded at recent session while its average daily volume was at 1.40M shares. Arqit Quantum Inc. shares reached a high of $0.7205 and dropped to a low of $0.6333 until finishing in the latest session at $0.64.
The one-year ARQQ stock forecast points to a potential upside of 89.33. The average equity rating for ARQQ stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $6.00 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 2.00. 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.
The Average True Range (ATR) for Arqit Quantum Inc. is set at 0.12, with the Price to Sales ratio for ARQQ stock in the period of the last 12 months amounting to 68.00. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.21.
ARQQ Stock Performance Analysis:
Arqit Quantum Inc. [ARQQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.18. With this latest performance, ARQQ shares dropped by -39.05% in over the last four-week period, additionally sinking by -47.54% over the last 6 months – not to mention a drop of -88.73% 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 31.50, with the RSI for the last a single of trading hit 27.84, and the three-weeks RSI is set at 34.53 for Arqit Quantum Inc. [ARQQ]. The present Moving Average for the last 50 days of trading for this stock 1.1052, while it was recorded at 0.9565 for the last single week of trading, and 2.0653 for the last 200 days.
Insight into Arqit Quantum Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Arqit Quantum Inc. [ARQQ] shares currently have an operating margin of -712.78 and a Gross Margin at +82.09. Arqit Quantum Inc.’s Net Margin is presently recorded at +902.32.
Return on Total Capital for ARQQ is now -195.65, given the latest momentum, and Return on Invested Capital for the company is 253.23. Return on Equity for this stock inclined to 291.07, with Return on Assets sitting at 54.78. When it comes to the capital structure of this company, Arqit Quantum Inc. [ARQQ] has a Total Debt to Total Equity ratio set at 9.97. Additionally, ARQQ Total Debt to Total Capital is recorded at 9.07, with Total Debt to Total Assets ending up at 6.33. Long-Term Debt to Equity for the company is recorded at 8.50, with the Long-Term Debt to Total Capital now at 7.73.
Reflecting on the efficiency of the workforce at the company, Arqit Quantum Inc. [ARQQ] managed to generate an average of $448,793 per employee. Receivables Turnover for the company is 1.31 with a Total Asset Turnover recorded at a value of 0.06.Arqit Quantum Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.
Arqit Quantum Inc. [ARQQ] Institutonal Ownership Details
The top three institutional holders of ARQQ stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in ARQQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in ARQQ stock with ownership which is approximately 5.7381%.
