CIBC Private Wealth Group LLC Takes Position in Arqit Quantum Inc. (NASDAQ:ARQQ)

CIBC Private Wealth Group LLC bought a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the company’s stock, valued at approximately $388,000. CIBC Private Wealth Group LLC owned approximately 0.08% of Arqit Quantum at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Arqit Quantum in the fourth quarter valued at $937,000. Veracity Capital LLC acquired a new stake in Arqit Quantum in the 4th quarter valued at about $420,000. Virtu Financial LLC bought a new position in shares of Arqit Quantum during the 4th quarter valued at about $231,000. BIT Capital GmbH acquired a new position in shares of Arqit Quantum in the 4th quarter worth approximately $207,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of Arqit Quantum in the 4th quarter worth approximately $166,000. 16.60% of the stock is currently owned by institutional investors and hedge funds.

Arqit Quantum Price Performance

Shares of ARQQ opened at $12.02 on Friday. The business’s 50-day moving average price is $16.56 and its 200 day moving average price is $16.71. Arqit Quantum Inc. has a 1-year low of $3.72 and a 1-year high of $52.79.

Analyst Ratings Changes

Separately, HC Wainwright raised 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.

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.