Arqit Quantum Sees Unusually Large Options Volume (NASDAQ:ARQQ)

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of some unusual options trading on Monday. Stock traders acquired 2,702 call options on the stock. This is an increase of 453% compared to the average volume of 489 call options.

Institutional Trading of Arqit Quantum

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in Arqit Quantum during the 4th quarter worth approximately $30,000. Barclays PLC acquired a new position in shares of Arqit Quantum during the fourth quarter worth $39,000. Wells Fargo & Company MN bought a new stake in shares of Arqit Quantum in the fourth quarter worth $134,000. Wolverine Asset Management LLC acquired a new stake in Arqit Quantum in the fourth quarter valued at $166,000. Finally, BIT Capital GmbH bought a new position in Arqit Quantum during the 4th quarter worth $207,000. 16.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright increased their target price on shares of Arqit Quantum from $27.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st.

Arqit Quantum Trading Up 56.9 %

Shares of NASDAQ:ARQQ opened at $23.54 on Tuesday. Arqit Quantum has a 52-week low of $3.72 and a 52-week high of $52.79. The company has a fifty day moving average of $19.14 and a 200-day moving average of $15.90.

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.