An analyst sees good growth prospects for Arqit Quantum Inc (ARQQ)

With 0.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.72 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $0.3499 whereas the lowest price it dropped to was $0.34. The 52-week range on ARQQ shows that it touched its highest point at $1.50 and its lowest point at $0.30 during that stretch. It currently has a 1-year price target of $2.00. Beta for the stock currently stands at 1.22.

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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 up-trending over the past week, with a rise of 9.78%, but this was down by -10.87% over a month. Three-month performance dropped to -33.90% while six-month performance fell -13.68%. The stock lost -71.08% in the past year, while it has lost -26.79% so far this year. A look at the trailing 12-month EPS for ARQQ yields -0.58 with Next year EPS estimates of -0.08.

Float and Shares Shorts:

At present, 163.55 million ARQQ shares are outstanding with a float of 63.20 million shares on hand for trading. On 2024-06-14, short shares totaled 3.62 million, which was 215.0 higher than short shares on 1715731200. In addition to Mr. David John Williams Esq. as the firm’s Founder, Executive Chairman & CEO, Mr. David James Bestwick Esq. serves as its Co-Founder & CTO.

Institutional Ownership:

Through their ownership of 0.11423001 of ARQQ’s outstanding shares, institutional investors have minority control over the company.

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.