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

Penserra Capital Management LLC acquired a new stake in 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 acquired 712,306 shares of the company’s stock, valued at approximately $26,376,000. Penserra Capital Management LLC owned about 5.59% of Arqit Quantum at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ARQQ. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Arqit Quantum in the first quarter valued at approximately $40,000. Hussman Strategic Advisors Inc. purchased a new position in Arqit Quantum during the first quarter worth approximately $146,000. Biltmore Family Office LLC acquired a new position in Arqit Quantum during the second quarter worth $253,000. Royal Bank of Canada grew its holdings in Arqit Quantum by 222.9% in the 1st quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock valued at $284,000 after buying an additional 14,186 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of Arqit Quantum by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 31,145 shares of the company’s stock worth $432,000 after acquiring an additional 7,032 shares during the last quarter. 16.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Arqit Quantum in a research report on Wednesday, October 8th. HC Wainwright set a $60.00 target price on shares of Arqit Quantum and gave the stock a “buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arqit Quantum has an average rating of “Hold” and a consensus target price of $60.00.

Arqit Quantum Stock Up 5.8%

Shares of ARQQ stock opened at $33.84 on Friday. The stock’s 50-day moving average is $39.81 and its two-hundred day moving average is $32.85. Arqit Quantum Inc. has a 1 year low of $7.00 and a 1 year high of $62.00.

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.