Arqit Quantum Inc (NASDAQ: ARQQ) Stock Declined -2.75% Last Week – That’s Proof That Its Volatility Isn’t Going Anywhere

Arqit Quantum Inc (NASDAQ:ARQQ) does about 1.82M shares in volume on a normal day but saw 5767875 shares change hands in Friday’s trading. The company now has a market cap of 67.00M USD. Its current market price is $0.40, marking a decrease of -2.44% compared to the previous close of $0.41. The 52 week high reached by this stock is $1.65 whilst the lowest price level in 52 weeks is $0.39.

Arqit Quantum Inc (ARQQ) has a 20-day trading average at $0.4632 and the current price is -75.81% off the 52-week high compared with 2.10% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.6046 and its 200-day simple moving average is $0.6158. If we look at the stock’s price movements over the week, volatility stands at 8.81%, which increases to 10.23% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 34.55 to suggest the stock is neutral.

The consensus objective for the share price is $3.00, suggesting that the stock has a potential upside of 86.67% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 19, 2022 when Deutsche Bank initiated the stock to “Hold” and issued a price target of $7.

Arqit Quantum Inc (ARQQ) stock is down -2.75% over the week and -21.80% over the past month. Its price is -15.78% year-to-date and -63.87% over the past year.

To reach the target analysts have set, the stock logically needs to grow 86.67 percent from here.

The company has a return on investment of -96.51% and return on equity of -101.80%. The beta has a value of 1.29. Price to book ratio is 0.98 and price to sales ratio is 104.69.