The trading price of Arqit Quantum Inc (NASDAQ:ARQQ) closed higher on Tuesday, May 27, and closing at $26.40, 5.14% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $52.79 and a 52-week low of $3.72. Over the past month, the stock has gained 74.26% in value.
Arqit Quantum Inc, whose market valuation is $378.97 million at the time of this writing, is expected to release its quarterly earnings report in June. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0 per share this quarter, however they have predicted annual earnings per share of -3.22 for current year and -1.68 for next year.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 1.1M.
On the technical side, indicators suggest ARQQ has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ARQQ a recommendation rating is 1. Out of them, 0 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Arqit Quantum Inc (ARQQ) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that ARQQ’s price is currently 40.00% off the SMA20 and 56.64% off the SMA50. The RSI metric on the 14-day chart is currently showing 75.10, and weekly volatility stands at 4.47%. When measured over the past 30 days, the indicator reaches 8.42%. Arqit Quantum Inc (NASDAQ:ARQQ)’s beta value is currently sitting at 2.16, while the Average True Range indicator is currently displaying 3.22. With analysts defining $14-$14 as the low and high price targets, we arrive at a consensus price target of $14 for the trailing 12-month period. The current price is about 46.97% off the estimated low and 46.97% off the forecast high, based on this estimate. Investors will be thrilled if ARQQ’s share price rises to $14, which is the median consensus price. At that level, ARQQ’s share price would be 46.97% above current price.
To see how Arqit Quantum Inc stock has been performing in comparison to its peers in the industry, here are the numbers: ARQQ stock’s performance was 5.14% in the latest trading, and 162.36% in the past year.
An evaluation of the daily trading volume of Arqit Quantum Inc (NASDAQ:ARQQ) indicates that the 3-month average is 579.25K.
Currently, records show that 12.75 million of the company’s shares remain outstanding. The insiders hold 52.99% of outstanding shares, whereas institutions hold 4.52%. However, since the stock’s price has seen -32.03% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
