Global Retirement Partners LLC Makes New Investment in Arqit Quantum Inc. $ARQQ

Global Retirement Partners LLC bought a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the second quarter, HoldingsChannel reports. The firm bought 6,000 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors have also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in shares of Arqit Quantum in the second quarter valued at approximately $26,376,000. Legal & General Group Plc acquired a new stake in Arqit Quantum in the second quarter valued at $2,687,000. SBI Securities Co. Ltd. boosted its position in shares of Arqit Quantum by 17.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 36,590 shares of the company’s stock worth $1,355,000 after purchasing an additional 5,445 shares in the last quarter. Virtu Financial LLC grew its stake in shares of Arqit Quantum by 440.7% during the 1st quarter. Virtu Financial LLC now owns 32,208 shares of the company’s stock worth $446,000 after purchasing an additional 26,251 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Arqit Quantum by 222.9% during the 1st quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock worth $284,000 after purchasing an additional 14,186 shares during the period. 16.60% of the stock is currently owned by hedge funds and other institutional investors.

Arqit Quantum Stock Performance

Shares of ARQQ opened at $26.42 on Tuesday. Arqit Quantum Inc. has a 12-month low of $11.00 and a 12-month high of $62.00. The company has a 50-day moving average of $38.41 and a two-hundred day moving average of $34.43.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Arqit Quantum in a report on Wednesday, October 8th. HC Wainwright set a $60.00 price target on Arqit Quantum and gave the stock a “buy” rating in a report on Monday, October 13th. One 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, the company has a consensus rating of “Hold” and an average target price of $60.00.

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.