Arqit Quantum Inc (NASDAQ:ARQQ) price closed lower on Friday, May 03, dropping -4.51% below its previous close.
A look at the daily price movement shows that the last close reads $0.43. Taking into account the 52-week price action we note that the stock hit a 52-week high of $1.65 and 52-week low of $0.39. The stock subtracted -28.98% on its value in the past month.
On average, analysts have forecast the company’s revenue for the quarter will hit $20.04 million, with the likely lows of $20.04 million and highs of $20.04 million. The average estimate suggests sales growth for the quarter will likely rise by 2,791.80% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $20.04 million for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 2,791.80% above that which the company brought in 2024.
On the technical perspective front, indicators give ARQQ a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as 100% Sell.
The overview shows that ARQQ’s price is at present -17.62% off the SMA20 and -34.74% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 32.27, with weekly volatility standing at 17.81%. The indicator jumps to 10.88% when calculated based on the past 30 days. Arqit Quantum Inc (NASDAQ:ARQQ)’s beta value is holding at 1.31, while the average true range (ATR) indicator is currently reading 0.06.
An analysis of the Arqit Quantum Inc (NASDAQ:ARQQ) stock in terms of its daily trading volume indicates that the 3-month average is 1.76 million.
Current records show that the company has 163.55M in outstanding shares. The insiders’ percentage holdings are 70.18% of outstanding shares while the percentage share held by institutions stands at 5.17%. But the -13.40% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
