Arqit Quantum Inc (NASDAQ:ARQQ) price on current trading day, fall -24.96% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $18.16.
A look at the stock’s price movement, the level at last check in today’s session was $24.20, moving within a range at $17.4144 and $24.3851. The beta value (5-Year monthly) was 1.172. Turning to its 52-week performance, $32.50 and $3.72 were the 52-week high and 52-week low respectively. Overall, ARQQ moved 203.17% over the past month.
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Arqit Quantum Inc’s market cap currently stands at around $227.08 million, with investors looking forward to this quarter’s earnings report slated for in January.
Wall Street analysts have also projected the company’s year-on-year revenue to grow to 443k, representing a -36.08% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ARQQ is a 100% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 1 recommend ARQQ as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ARQQ’s current price about 35.39% and 109.07% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.49, while 7-day volatility ratio is 32.78% and 24.18% in the 30-day chart. Further, Arqit Quantum Inc (ARQQ) has a beta value of 2.50, and an average true range (ATR) of 3.86. Analysts have given the company’s stock an average 52-week price target of $14, forecast between a low of $14 and high of $14. Looking at the price targets, the low is 22.91% off recent price level in today’s trading while to achieve the yearly target high, it has to move 22.91%. Nonetheless, investors will most likely welcome a 22.91% jump to $14 which is the analysts’ median price.
If we refocus on Arqit Quantum Inc (NASDAQ:ARQQ), historical trading data shows that trading volumes averaged 1.14 over the past 10 days and 304.47K over the past 3 months. The company’s latest data on shares outstanding shows there are 34.50 million shares.
The 66.73% of Arqit Quantum Inc’s shares are in the hands of company insiders while institutional holders own 0.86% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.22 million on 2024-11-15, giving us a short ratio of 1.0. The data shows that as of 2024-11-15 short interest in Arqit Quantum Inc (ARQQ) stood at 563.99997 of shares outstanding, with shares short rising to 0.13 million registered in 2024-10-15. Current price change has pushed the stock 53.25% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ARQQ stock continues to rise going into the next quarter.
