Future Outlook And Arqit Quantum Inc Stock Price Performance

In the last trading session, 1.34 million shares of the Arqit Quantum Inc (NASDAQ:ARQQ) were traded, and its beta was 1.13. Most recently the company’s share price was $0.68, and it changed around -$0.05 or -6.76% from the last close, which brings the market valuation of the company to $110.91M. ARQQ currently trades at a discount to its 52-week high of $1.65, offering almost -142.65% off that amount. The share price’s 52-week low was $0.39, which indicates that the current value has risen by an impressive 42.65% since then. We note from Arqit Quantum Inc’s average daily trading volume that its 10-day average is 0.59 million shares, with the 3-month average coming to 921.24K.

Arqit Quantum Inc (NASDAQ:ARQQ) trade information

Instantly ARQQ has showed a red trend with a performance of -6.76% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 42.62% year-to-date, but still down -8.03% over the last five days. On the other hand, Arqit Quantum Inc (NASDAQ:ARQQ) is -5.24% down in the 30-day period. We can see from the shorts that 4.43 million shares have been sold at a short interest cover period of 3.32 day(s).

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The consensus price target as assigned by Wall Street analysts is $14, which translates to bulls needing to increase their stock price by 95.14% from its current value. Analyst projections state that ARQQ is forecast to be at a low of $14 and a high of $14.

Arqit Quantum Inc (ARQQ) estimates and forecasts

Arqit Quantum Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 30.30 percent over the past six months and at a 78.95% annual growth rate that is well above the industry average of 16.90%. The year-over-year growth rate is expected to be 2,791.80%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $20.04 million in revenue for the current quarter. Analysts predict that the company’s current quarter sales will jump, forecast at 2,791.80%.

ARQQ Dividends

Arqit Quantum Inc’s next quarterly earnings report is expected to be released around May 15 and May 20.

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

Upon looking at major shareholders, it appears that insiders hold 54.62% of Arqit Quantum Inc shares, and 11.50% of them are in the hands of institutional investors. The stock currently has a share float of 25.35%. Arqit Quantum Inc stock is held by 47 institutions, with Evolution Equity Partners II Sarl being the largest institutional investor. By Jun 29, 2023, it held 6.96% of the shares, which is about 9.93 million shares worth $12.02 million.

Mirae Asset Global Investments Co., Ltd., with 1.21% or 1.73 million shares worth $2.09 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

ETF Series Solutions-Defiance Quantum ETF and Global X Fds-Global X Cybersecurity ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 1.58 million shares worth $1.91 million, making up 1.11% of all outstanding shares. On the other hand, Global X Fds-Global X Cybersecurity ETF held roughly 1.38 million shares worth around $0.82 million, which represents about 0.97% of the total shares outstanding.