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Arqit Quantum Inc. (ARQQ): What Are The Positives?

Arqit Quantum Inc. (NASDAQ:ARQQ) has seen 1.62 million shares traded in the last trading session. The company, currently valued at $256.36M, closed the last trade at $2.08 per share which meant it lost -$0.01 on the day or -0.48% during that session. The ARQQ stock price is -778.85% off its 52-week high price of $18.28 and 4.33% above the 52-week low of $1.99. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.21 million shares traded. The 3-month trading volume is 724.23K shares.

The consensus among analysts is that Arqit Quantum Inc. (ARQQ) is an Overweight stock at the moment, with a recommendation rating of 2.30. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 2 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight.

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Arqit Quantum Inc. (NASDAQ:ARQQ) trade information

Sporting -0.48% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the ARQQ stock price touched $2.08 or saw a rise of 31.35%. Year-to-date, Arqit Quantum Inc. shares have moved -42.38%, while the 5-day performance has seen it change -24.64%. Over the past 30 days, the shares of Arqit Quantum Inc. (NASDAQ:ARQQ) have changed -50.71%. Short interest in the company has seen 0.85 million shares shorted with days to cover at 3.

Arqit Quantum Inc. (ARQQ) estimates and forecasts

Figures show that Arqit Quantum Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -66.98% over the past 6 months, with this year growth rate of -84.91%, compared to 12.90% for the industry.

ARQQ Dividends

Arqit Quantum Inc. is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Arqit Quantum Inc. (NASDAQ:ARQQ)’s Major holders

Insiders own 79.72% of the company shares, while shares held by institutions stand at 2.40% with a share float percentage of 11.85%. Investors are also buoyed by the number of investors in a company, with Arqit Quantum Inc. having a total of 44 institutions that hold shares in the company. The top two institutional holders are First Trust Advisors LP with over 1.33 million shares worth more than $8.42 million. As of Jun 29, 2022, First Trust Advisors LP held 1.11% of shares outstanding.

The other major institutional holder is JP Morgan Chase & Company, with the holding of over 0.29 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.85 million and represent 0.24% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are First Trust NASDAQ Cybersecurity ETF and ETF Managers Tr-EFTMG Prime Cyber Security ETF. As of Sep 29, 2022, the former fund manager holds about 1.79% shares in the company for having 2.15 million shares of worth $12.09 million while later fund manager owns 0.12 million shares of worth $0.75 million as of Jun 29, 2022, which makes it owner of about 0.10% of company’s outstanding stock.

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