As of Thursday close, Arqit Quantum Inc.’s (NASDAQ:ARQQ) stock was down -$0.08, moving down -6.35 percent to $1.18. The average number of shares traded per day over the past five days has been 3,972,280 shares. 3 times new highs have been achieved over the past 5 days, with a $0.0200 gain in that time frame. In the last twenty days, the average volume was 1,826,785, while in the previous 50 days, it was 1,948,494.
Since last month, ARQQ stock retreated -7.09%. Shares of the company fell to $1.1500 on 07/26/23, the lowest level in the past month. A 52-week high of $10.67 was reached on 02/06/23 after having rallying from a 52-week low of $0.70. Since the beginning of this year, ARQQ’s stock price has dropped by -67.31% or -$2.4300, and marked a new high 2 times. However, the stock has declined by -88.94% since its 52-week high.
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Valuation Metrics
The stock’s beta is 0.41. Besides these, the trailing price-to-sales (P/S) ratio of 80.07, the price-to-book (PB) ratio of 1.84.
Financial Health
In the recent quarter, Arqit Quantum Inc.’s quick ratio stood at 2.20, while its current ratio was 2.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the recent quarter was 0.09, and the total debt-to-equity ratio was 0.11. Based on annual data, ARQQ earned $59.31 million in gross profit and brought in $7.21 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -60.20%. Return on equity (ROE) for the past 12 months was -32.80%.
ARQQ’s revenue rose 99.31% during the quarter, while net income inched up to $7.21 million. The liabilities of Arqit Quantum Inc. were 34.3 million at the end of its most recent quarter, and its total debt was $9.18 million.
Technical Picture
This quick technical analysis looks at Arqit Quantum Inc.’s (ARQQ) price momentum. With a historical volatility rate of 153.71%, the RSI 9-day stood at 45.44% on 03 August.
With respect to its five-day moving average, the current Arqit Quantum Inc. price is up by +1.72% percent or $0.0200. At present, ARQQ shares trade -0.84% below its 20-day simple moving average. However, the stock is currently trading approximately +11.32% above its SMA50 and -74.73% below its SMA200.
Stochastic coefficient K was 44.44% and Stochastic coefficient D was 43.29%, while ATR was 0.1318. Given the Stochastic reading of 8.70% for the 14-day period, the RSI (14) reading has been calculated as 46.56%. As of today, the MACD Oscillator reading stands at 0.0844, while the 14-day reading stands at 0.0712.
Analyst Ratings
Deutsche Bank launched its rating on Arqit Quantum Inc. (NASDAQ: ARQQ) to a Hold in a note to investors on July 19, 2022. Arqit Quantum Inc. (ARQQ) has been rated Overweight by analysts. According to 0 brokerage firms, ARQQ is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Arqit Quantum Inc. stock as buy, with 1 recommending it as overweight.
With a median target price of $3.58, the current consensus forecast for the stock is $1.15 – $6.00. Based on these forecasts, analysts predict Arqit Quantum Inc. (ARQQ) will achieve an average price target of $3.58.
