Arqit Quantum Inc. (NASDAQ: ARQQ) stock fell -6.58% on Monday to $0.58 against a previous-day closing price of $0.62. With 1.44 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.52 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $0.6250 whereas the lowest price it dropped to was $0.5701. The 52-week range on ARQQ shows that it touched its highest point at $10.67 and its lowest point at $0.61 during that stretch. It currently has a 1-year price target of $6.00. Beta for the stock currently stands at 0.56.
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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 -12.24%, but this was down by -40.02% over a month. Three-month performance dropped to -60.86% while six-month performance fell -42.06%. The stock lost -93.20% in the past year, while it has lost -83.96% so far this year. A look at the trailing 12-month EPS for ARQQ yields -0.12 with Next year EPS estimates of -0.26.
Float and Shares Shorts:
At present, 125.43 million ARQQ shares are outstanding with a float of 70.84 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.87 million, which was 0.65% higher than short shares on Jul 30, 2023. In addition to Mr. David John Williams Esq. as the firm’s Founder, Exec. Chairman & CEO, Mr. David James Bestwick Esq. serves as its CTO & Co-Founder.
Institutional Ownership:
Through their ownership of 12.08% of ARQQ’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.11% of ARQQ, in contrast to 0.96% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in ARQQ with 1.28% of the stake, Global X Management Co. LLC holds 1,711,502 shares worth 1,711,502. A second-largest stockholder of ARQQ, Penserra Capital Management LLC, holds 1,702,872 shares, controlling over 1.27% of the firm’s shares. Citigroup Global Markets, Inc. is the third largest shareholder in ARQQ, holding 374,059 shares or 0.28% stake. With a 1.25% stake in ARQQ, the Defiance Quantum ETF is the largest stakeholder. A total of 1,675,876 shares are owned by the mutual fund manager. The Global X Cyber Security ETF, which owns about 1.07% of ARQQ stock, is the second-largest Mutual Fund holder. It holds 1,434,562 shares valued at 1.28 million. ISE Cyber Security ETF holds 0.21% of the stake in ARQQ, owning 286,747 shares worth 0.26 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ARQQ since 0 analysts follow the stock currently. 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 $6.00 and a low target of $6.00, the average target price over the next 12 months is $6.00. Based on these targets, ARQQ could surge 934.48% to reach the target high and rise by 934.48% to reach the target low. Reaching the average price target will result in a growth of 934.48% 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.
