Arqit Quantum (NASDAQ:ARQQ) Posts Earnings Results

Arqit Quantum (NASDAQ:ARQQ - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($2.56) earnings per share for the quarter, RTT News reports.Get Arqit Quantum alerts:Arqit Quantum Stock PerformanceBig Gains Alert: These 3 Tech Stocks Are Surging This MonthARQQ stock remained flat at $29.63 on Tuesday. 359,314 shares of the company were exchanged, compared to its average volume of 397,710. Arqit Quantum has a fifty-two week low of $11.00 and a fifty-two week high of $62.00. The company has a 50 day simple moving average of $37.35 and a two-hundred day simple moving average of $34.67. Analyst Ratings ChangesSeveral research firms have recently issued reports on ARQQ. HC Wainwright set a $60.00 price target on Arqit Quantum and gave the stock a "buy" rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Arqit Quantum in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arqit Quantum presently has a consensus rating of "Hold" and an average price target of $60.00.3 Quantum Computing ETFs to Know—And Why 2 Don't Hold D-WaveView Our Latest Research Report on ARQQInstitutional Investors Weigh In On Arqit QuantumInstitutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. raised its stake in Arqit Quantum by 86.6% during the third quarter. Raymond James Financial Inc. now owns 84,713 shares of the company's stock worth $3,283,000 after acquiring an additional 39,316 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arqit Quantum by 226.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,033 shares of the company's stock worth $1,319,000 after purchasing an additional 23,596 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Arqit Quantum by 460.2% in the 3rd quarter. Van ECK Associates Corp now owns 26,615 shares of the company's stock worth $1,031,000 after purchasing an additional 21,864 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Arqit Quantum during the 2nd quarter worth about $800,000. Finally, Millennium Management LLC bought a new position in Arqit Quantum during the 3rd quarter valued at about $587,000. Institutional investors and hedge funds own 16.60% of the company's stock. About Arqit Quantum (Get Free Report)Arqit Stock Soars as NVIDIA’s GTC Fuels Quantum ExcitementArqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud, a Platform as a Service that creates unbreakable software encryption keys. The company also provides maintenance and support, and professional services. Arqit Quantum Inc is based in London, the United Kingdom.Featured ArticlesFive stocks we like better than Arqit QuantumUtilities Stocks Explained – How and Why to Invest in UtilitiesConsumers Got Coal, But Santa Dropped Off Big Gains for These 2 RetailersHow to trade using analyst ratings10X Gains? These 3 Robotics Stocks Could Explode by 2035Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?Anheuser-Busch Buys BeatBox to Win Over Younger DrinkersThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Arqit Quantum Right Now?Before you consider Arqit Quantum, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arqit Quantum wasn't on the list.While Arqit Quantum currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here