In the last trading session, 1.11 million Arqit Quantum Inc. (NASDAQ:ARQQ) shares changed hands as the company’s beta touched 0.52. With the company’s per share price at $0.62 changed hands at -$0.02 or -3.76% during last session, the market valuation stood at $105.40M. ARQQ’s last price was a discount, traded about -1620.97% off its 52-week high of $10.67. The share price had its 52-week low at $0.63, which suggests the last value was -1.61% down since then. When we look at Arqit Quantum Inc.’s average trading volume, we note the 10-day average is 2.58 million shares, with the 3-month average coming to 1.52 million.
Analysts gave the Arqit Quantum Inc. (ARQQ) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ARQQ as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Arqit Quantum Inc.’s EPS for the current quarter is expected to be $0.
Arqit Quantum Inc. (NASDAQ:ARQQ) trade information
Instantly ARQQ was in red as seen at the end of in last trading. With action -3.12%, the performance over the past five days has been red. The drop to weekly highs of 0.7299 on Friday, 09/15/23 subtracted -3.76% to the stock’s daily price. The company’s shares are showing year-to-date downside of -82.83%, with the 5-day performance at -3.12% in the red. However, in the 30-day time frame, Arqit Quantum Inc. (NASDAQ:ARQQ) is -35.96% down. Looking at the short shares, we see there were 0.87 million shares sold at short interest cover period of 0.6 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.00, meaning bulls need an upside of 89.67% from its current market value. According to analyst projections, ARQQ’s forecast low is $6.00 with $6.00 as the target high. To hit the forecast high, the stock’s price needs a -867.74% plunge from its current level, while the stock would need to soar -867.74% for it to hit the projected low.
Arqit Quantum Inc. (ARQQ) estimates and forecasts
Data shows that the Arqit Quantum Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -36.08% over the past 6 months, a -149.06% in annual growth rate that is considerably lower than the industry average of 17.90%.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $20.05 million. 1 analysts are of the opinion that Arqit Quantum Inc.’s revenue for the quarter ending Mar 2023 will be $20.05 million.
The 2023 estimates are for Arqit Quantum Inc. earnings to increase by 121.60%.
Arqit Quantum Inc. is expected to release its next quarterly earnings report in October.
Arqit Quantum Inc. (NASDAQ:ARQQ)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 59.98% of Arqit Quantum Inc. shares while 12.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 30.17%. There are 12.08% institutions holding the Arqit Quantum Inc. stock share, with Evolution Equity Partners II Sarl the top institutional holder. As of Jun 29, 2023, the company held 6.96% of the shares, roughly 9.93 million ARQQ shares worth $12.02 million.
Mirae Asset Global Investments Co., Ltd. holds the second largest percentage of outstanding shares, with 1.21% or 1.73 million shares worth $2.09 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were ETF Series Solutions-Defiance Quantum ETF and Global X Fds-Global X Cybersecurity ETF. With 1.58 million shares estimated at $1.91 million under it, the former controlled 1.11% of total outstanding shares. On the other hand, Global X Fds-Global X Cybersecurity ETF held about 1.07% of the shares, roughly 1.53 million shares worth around $1.79 million.