Arqit Quantum Inc. (ARQQ) touched a new high 1 time within the past 5 days.

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Arqit Quantum Inc. (NASDAQ:ARQQ) saw an upside of 15.87% to close Tuesday at $2.41 after adding $0.33 on the day. The 5-day average trading volume is 1,748,220 shares of the company’s common stock. It has gained $3.02 in the past week and touched a new high 1 time within the past 5 days. An average of 984,180 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 736,904.

ARQQ’s 1-month performance is -44.98% or -$1.79 on its low of $1.99 reached on 01/20/23. The company’s shares have touched a 52-week low of $1.99 and high of $17.88, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, ARQQ has lost -33.24% or -$1.20 and has reached a new high 1 time. However, the current price is down -86.52% from the 52-week high price.

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Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 41.19 while the price-to-book (PB) in the most recent quarter is 5.24.

Arqit Quantum Inc.’s quick ratio for the recent period was 4.90, with the current ratio over the same period at 4.90. The firm’s gross profit as reported stood at $59.31 million against revenue of $7.21 million.

Earnings Surprise

Net income grew 516.93% to $65.08 million, while revenue of $0.0 was 100.0% off the previous quarter. Shareholders hold equity totaling $121.93 million.

Let’s look briefly at Arqit Quantum Inc. (ARQQ) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 36.04% to suggest the stock is trending Neutral, with historical volatility in this time period at 156.23%.

The stock’s 5-day moving average is $2.22, reflecting a -16.90% or -$0.49 change from its current price. ARQQ is currently trading -43.03% above its 20-day SMA, -59.43% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -75.88% and SMA200 by-83.72%.

Stochastic %K and %D was 15.75% and 8.21% and the average true range (ATR) pointed at 0.39. The RSI (14) points at 32.84%, while the 14-day stochastic is at 36.20% with the period’s ATR at 0.44. The stock’s 9-day MACD Oscillator is pointing at -0.23 and -0.38 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Arqit Quantum Inc. (NASDAQ: ARQQ), Deutsche Bank launched coverage with a Hold rating. Analysts offering their rating for ARQQ stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ARQQ as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

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