Arqit Quantum (NASDAQ:ARQQ) Shares Down 6.8%

Arqit Quantum Inc. (NASDAQ:ARQQGet Rating)’s share price traded down 6.8% during trading on Tuesday . The company traded as low as $11.64 and last traded at $11.64. 4,384 shares traded hands during trading, a decline of 99% from the average session volume of 427,510 shares. The stock had previously closed at $12.49.

The stock has a fifty day moving average price of $15.36.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Arqit Quantum during the fourth quarter worth approximately $1,639,000. Vident Investment Advisory LLC acquired a new stake in Arqit Quantum during the fourth quarter worth approximately $590,000. Penserra Capital Management LLC lifted its position in Arqit Quantum by 3,268.2% during the fourth quarter. Penserra Capital Management LLC now owns 190,271 shares of the company’s stock worth $4,556,000 after acquiring an additional 184,622 shares during the last quarter. Stifel Financial Corp acquired a new stake in Arqit Quantum during the fourth quarter worth approximately $465,000. Finally, Invesco Ltd. acquired a new stake in Arqit Quantum during the fourth quarter worth approximately $1,100,000. Hedge funds and other institutional investors own 69.24% of the company’s stock.

About Arqit Quantum (NASDAQ:ARQQ)

Arqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud that enables any device to download a lightweight software agent, which can create encryption keys in partnership with any other device. The company is based in London, the United Kingdom.

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