Arqit Quantum (NASDAQ:ARQQ) Trading 3.8% Higher – Here’s What Happened

Arqit Quantum Inc. (NASDAQ:ARQQ)’s share price traded up 3.8% during mid-day trading on Tuesday . The stock traded as high as $37.96 and last traded at $37.94. 535,500 shares changed hands during trading, a decline of 9% from the average session volume of 591,460 shares. The stock had previously closed at $36.54.

Arqit Quantum Stock Performance

The company has a 50-day moving average of $28.56 and a 200-day moving average of $22.24.

Arqit Quantum (NASDAQ:ARQQ) last released its earnings results on Thursday, May 22nd. The company reported ($1.35) EPS for the quarter. Analysts predict that Arqit Quantum Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Arqit Quantum

A number of institutional investors have recently added to or reduced their stakes in ARQQ. Royal Bank of Canada grew its holdings in shares of Arqit Quantum by 222.9% in the 1st quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock worth $284,000 after acquiring an additional 14,186 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Arqit Quantum by 440.7% in the 1st quarter. Virtu Financial LLC now owns 32,208 shares of the company’s stock valued at $446,000 after purchasing an additional 26,251 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Arqit Quantum during the 1st quarter worth $40,000. Hussman Strategic Advisors Inc. bought a new position in shares of Arqit Quantum during the 1st quarter worth about $146,000. Finally, SBI Securities Co. Ltd. increased its stake in Arqit Quantum by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 31,145 shares of the company’s stock valued at $432,000 after acquiring an additional 7,032 shares during the period. 16.60% of the stock is owned by hedge funds and other institutional investors.

About Arqit Quantum

Arqit 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.