Positioning no disclosures inside 60 days, left as found
Options put/call open interest 9.00, read 2026-11-03
Ethical does not pass the values gate
Price12.28 USD
Ethical score70.0/100
Our investment reviews on this name
2026-11-01Read Distribution15.73-21.9% to today ✓Markdown gives way to Distribution
2026-10-25Read Markdown15.90-22.8% to today ✓Distribution gives way to Markdown after a 32% slide in 2 weeks
2026-10-11Read Distribution23.53-47.8% to today ✓Markup gives way to Distribution after a 73% rise in 14 weeks
2026-07-02Read Markup13.60-9.7% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Arqit Quantum Inc holds its Distribution at $12.28. The statistical read favours the sellers, held for 56 days.
As held on the ledger · 2026-11-05
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 56 days
Price at the screen
$12.28
Valuation
N/A trailing · -16.43 forward price to earnings
Values screen
FAIL· score 70.0
Beta
2.21
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
1.68%
Below 33%
Interest-bearing debt is just 1.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
87.83%
Below 49%
Money owed to the company is 87.8% of assets, above the 49% limit.
Fail
Revenue purity
100.00%
Below 5%
100.0% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Arqit Quantum's business is fine, but its receivables are about 88% of its assets, well over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today ARQQ does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day; its business and earnings are exposed to United Kingdom and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ARQQ trades on NASDAQ (the company is based in United Kingdom). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60. Insiders have been net sellers over the past quarter.
2026-10-25Markdown · changed$15.90+0.0%Entry 11
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60. Insiders have been net sellers over the past quarter.
2026-10-18Distribution$15.90-32.4%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 32.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60. Insiders have been net sellers over the past quarter.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60. Insiders have been net sellers over the past quarter.
2026-10-02Markup$23.53+0.0%Entry 8
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60.
2026-09-24Markup$23.53+35.1%Entry 7
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 35.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60.
2026-08-22Markup$17.42+0.0%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60.
2026-07-21Markup$17.42+28.1%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 28.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60.
2026-07-18Markup$13.60+0.0%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60.
2026-07-17Markup$13.60+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 47%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (1 analysts) rates it none, with a mean price target of $60.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.