Arqit Quantum (NASDAQ:ARQQ) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Arqit Quantum (NASDAQ:ARQQ) from a hold rating to a sell rating in a research note published on Saturday.

Several other brokerages also recently weighed in on ARQQ. HC Wainwright restated a “buy” rating on shares of Arqit Quantum in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Arqit Quantum in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Arqit Quantum currently has an average rating of “Hold” and a consensus price target of $60.00.

Arqit Quantum Stock Performance

NASDAQ ARQQ opened at $26.60 on Friday. The business has a fifty day moving average price of $26.66 and a two-hundred day moving average price of $33.78. Arqit Quantum has a fifty-two week low of $11.00 and a fifty-two week high of $62.00.

Institutional Investors Weigh In On Arqit Quantum

A number of institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in shares of Arqit Quantum in the third quarter valued at about $27,000. Allworth Financial LP increased its position in Arqit Quantum by 53.8% during the 2nd quarter. Allworth Financial LP now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 350 shares during the period. Jones Financial Companies Lllp raised its holdings in Arqit Quantum by 333.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,206 shares of the company’s stock worth $80,000 after purchasing an additional 1,697 shares during the last quarter. MASO CAPITAL PARTNERS Ltd bought a new position in Arqit Quantum during the 3rd quarter worth approximately $110,000. Finally, Quantbot Technologies LP acquired a new position in shares of Arqit Quantum in the 2nd quarter worth approximately $122,000. Institutional investors own 16.60% of the company’s stock.

About Arqit Quantum

Arqit Quantum Inc is a UK‐based cybersecurity company specializing in quantum-safe encryption solutions designed to protect sensitive data from current and emerging cyber threats. The company’s core technology leverages principles of quantum physics to generate and distribute encryption keys in a way that remains impervious to attacks, including those enabled by future quantum computers. Arqit’s platform is designed to integrate with existing IT infrastructures without requiring hardware upgrades, offering end‐to‐end data protection for enterprises, governments and critical infrastructure providers.

The company’s flagship QuantumCloud platform uses a patented key distribution architecture to deliver symmetrical keys to endpoints across distributed networks.