Does Arqit Quantum Inc. (ARQQ) offer a good opportunity for investors?

Arqit Quantum Inc. (NASDAQ: ARQQ) stock fell -0.48% on Monday to $2.08 against a previous-day closing price of $2.09. With 1.62 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.72 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $2.2000 whereas the lowest price it dropped to was $2.0000. The 52-week range on ARQQ shows that it touched its highest point at $18.28 and its lowest point at $1.99 during that stretch. It currently has a 1-year price target of $10.83.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ARQQ was down-trending over the past week, with a drop of -24.64%, but this was down by -50.71% over a month. Three-month performance dropped to -48.00% while six-month performance fell -66.98%. The stock lost -87.99% in the past year, while it has lost -42.38% so far this year. A look at the trailing 12-month EPS for ARQQ yields 0.46 with Next year EPS estimates of 0.15.

Float and Shares Shorts:

At present, 121.93 million ARQQ shares are outstanding with a float of 24.90 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.85 million, which was 0.69% higher than short shares on Sep 14, 2022. In addition to Mr. David John Williams Esq. as the firm’s Founder, Chairman & CEO, Mr. David James Bestwick Esq. serves as its CTO & Co-Founder.

Institutional Ownership:

Through their ownership of 2.40% of ARQQ’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.71% of ARQQ, in contrast to -2.33% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ARQQ with 1.92% of the stake, First Trust Advisors LP holds 2,348,547 shares worth 2,348,547. A second-largest stockholder of ARQQ, JPMorgan Securities LLC, holds 254,646 shares, controlling over 0.21% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ARQQ, holding 228,100 shares or 0.19% stake. With a 3.39% stake in ARQQ, the Global X Cyber Security ETF is the largest stakeholder. A total of 4,143,161 shares are owned by the mutual fund manager. The First Trust NASDAQ Cybersecurity, which owns about 1.25% of ARQQ stock, is the second-largest Mutual Fund holder. It holds 1,532,818 shares valued at 5.53 million. Echiquier Space Fund holds 0.18% of the stake in ARQQ, owning 216,700 shares worth 0.78 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ARQQ since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ARQQ analysts setting a high price target of $14.00 and a low target of $3.50, the average target price over the next 12 months is $8.75. Based on these targets, ARQQ could surge 573.08% to reach the target high and rise by 68.27% to reach the target low. Reaching the average price target will result in a growth of 320.67% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ARQQ will report FY 2023 earnings on 12/14/2023. Analysts have provided yearly estimates in a range of $0.08 being high and $0.07 being low. For ARQQ, this leads to a yearly average estimate of $0.07.

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