Penserra Capital Management LLC Takes $26.38 Million Position in Arqit Quantum Inc. $ARQQ

Penserra Capital Management LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 712,306 shares of the company’s stock, valued at approximately $26,376,000. Penserra Capital Management LLC owned 0.06% of Arqit Quantum at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Virtu Financial LLC increased its stake in Arqit Quantum by 440.7% in the first 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 period. Royal Bank of Canada boosted its stake in shares of Arqit Quantum by 222.9% during the first quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock worth $284,000 after buying an additional 14,186 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in shares of Arqit Quantum during the first quarter worth about $146,000. SBI Securities Co. Ltd. increased its position in Arqit Quantum by 29.2% in the 1st 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. Finally, Biltmore Family Office LLC purchased a new stake in Arqit Quantum during the 2nd quarter valued at approximately $253,000. 16.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARQQ has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Arqit Quantum in a research note on Wednesday, October 8th. HC Wainwright set a $60.00 price target on Arqit Quantum and gave the stock a “buy” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.00.

Arqit Quantum Price Performance

NASDAQ ARQQ opened at $33.84 on Friday. Arqit Quantum Inc. has a 52-week low of $7.00 and a 52-week high of $62.00. The firm has a 50-day moving average price of $39.81 and a 200 day moving average price of $32.85.

Arqit Quantum Profile

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.