Arqit Quantum Inc (NASDAQ:ARQQ) price on Friday, June 13, fall -11.00% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $23.78.
A look at the stock’s price movement, the close in the last trading session was $26.72. Turning to its 52-week performance, $52.79 and $3.72 were the 52-week high and 52-week low respectively. Overall, ARQQ moved 51.46% over the past month.
Arqit Quantum Inc’s market cap currently stands at around $341.36 million, with investors looking forward to this quarter’s earnings report slated for in July.
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 -1.82% and 27.65% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.61, while 7-day volatility ratio is 8.09% and 9.95% in the 30-day chart. Further, Arqit Quantum Inc (ARQQ) has a beta value of 2.14, and an average true range (ATR) of 2.79. 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 41.13% off current price level while to achieve the yearly target high, price needs to move 41.13%. Nonetheless, investors will most likely welcome a 41.13% 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 720.66K over the past 3 months. The company’s latest data on shares outstanding shows there are 14.35 million shares.
The 56.75% of Arqit Quantum Inc’s shares are in the hands of company insiders while institutional holders own 4.10% of the company’s shares. Current price change has pushed the stock -38.77% 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.
