In the latest trading session, 1.13 million Arqit Quantum Inc (NASDAQ:ARQQ) shares changed hands as the company’s beta touched 2.50. With the company’s most recent per share price at $27.20 changing hands around $7.22 or 36.14% at last look, the market valuation stands at $372.38M. ARQQ’s last price was a premium, traded about 15.44% off its 52-week high of $23.00. The share price had its 52-week low at $3.72, which suggests the last value was 86.32% up since then. When we look at Arqit Quantum Inc’s average trading volume, we note the 10-day average is 0.83 million shares, with the 3-month average coming to 249.72K.
Analysts gave the Arqit Quantum Inc (ARQQ) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. 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 is in green as seen in intraday trades today. With action 110.53%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 129.54%, with the 5-day performance at 110.53% in the green. However, in the 30-day time frame, Arqit Quantum Inc (NASDAQ:ARQQ) is 402.77% up. Looking at the short shares, we see there were 0.22 million shares sold at short interest cover period of 1.0 days.
The consensus price target for the stock as assigned by Wall Street analysts is 14, meaning bulls need a downside of -94.29% from its recent market value. According to analyst projections, ARQQ’s forecast low is 14 with 14 as the target high. To hit the forecast high, the stock’s price needs a 48.53% surge from its current level, while the stock would need to tank 48.53% 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 better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 182.38% over the past 6 months, a 89.26% in annual growth rate that is considerably higher than the industry average of 17.80%. Year-over-year growth is forecast to reach 299.86% up from the last financial year. The 2024 estimates are for Arqit Quantum Inc earnings to increase by 67.84%.
Arqit Quantum Inc (NASDAQ:ARQQ)’s Major holders
MILLENNIUM MANAGEMENT LLC holds the second largest percentage of outstanding shares, with 0.475% or 0.79 million shares worth $0.27 million as of 2024-06-30.
