Arqit Quantum Inc (NASDAQ:ARQQ) does about 438.81K shares in volume on a normal day but saw 2517125 shares change hands in the recent trading day. The company now has a market cap of 412.63M USD. Its current market price is $33.00, marking an increase of 24.76% compared to the previous close of $26.45. The 52 week high reached by this stock is $32.50 whilst the lowest price level in 52 weeks is $3.72. The script in recent trading has seen the stock touch a high of $14 and a low of $14.
Arqit Quantum Inc (ARQQ) has a 20-day trading average at $20.53 and the current price is 1.54% off the 52-week high compared with 787.10% distance from its 52-week low. The 50-day simple moving average of the closing price is $12.09 and its 200-day simple moving average is $10.83. If we look at the stock’s price movements over the week, volatility stands at 28.13%, which increases to 28.35% 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 77.56 to suggest the stock is overbought.
1 analysts observing the Arqit Quantum Inc (ARQQ) stock have set the 12-month price targets for the company’s shares at between $14 and $14. The consensus objective for the share price is $27.00, suggesting that the stock has a potential downside of -22.22% over the period. The median price target is -135.71% away from the current levels at $14.
FactSet Research has provided data showing that 1 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
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.
The current price level is 60.76%, 172.88%, and 204.63% away from its SMA20, SMA50, and SMA200 respectively, with the ARQQ price moving below the 50-day SMA on current market day. Arqit Quantum Inc (ARQQ) stock is up 23.41% over the week and 316.67% over the past month. Its price is 178.48% year-to-date and 157.31% over the past year.
The company’s next earnings report forecasts estimating quarterly EPS at 0 and -1.39 for whole year.
Its 12-month price target is $14. To reach the target analysts have set, the stock logically needs to shrink -22.22 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $14, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $14.
Outstanding shares total 12.50M with insiders holding 66.92% of the shares and institutional holders owning 5.37% of the company’s common stock. The company has a return on investment of -435.88% and return on equity of -61.11%. The beta has a value of 2.49. Price to book ratio is 32.24 and price to sales ratio is 1422.86.
