Arqit Quantum (NASDAQ:ARQQ) General Counsel Patrick Willcocks Sells 1,790 Shares of Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 1,790 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $13.32, for a total transaction of $23,842.80. Following the completion of the transaction, the general counsel directly owned 11,916 shares in the company, valued at $158,721.12. The trade was a 13.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Arqit Quantum Price Performance

Shares of ARQQ stock opened at $13.97 on Friday. Arqit Quantum Inc. has a 1-year low of $11.00 and a 1-year high of $62.00. The company has a 50-day moving average of $16.26 and a two-hundred day moving average of $27.38.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating on shares of Arqit Quantum in a report on Thursday, December 18th. Weiss Ratings restated a “sell (d)” rating on shares of Arqit Quantum in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Arqit Quantum currently has a consensus rating of “Hold” and an average price target of $60.00.

Institutional Trading of Arqit Quantum

Hedge funds have recently made changes to their positions in the business. National Bank of Canada FI acquired a new position in shares of Arqit Quantum in the third quarter valued at approximately $27,000. Kestra Advisory Services LLC acquired a new stake in Arqit Quantum during the 4th quarter worth approximately $40,000. Flagship Harbor Advisors LLC purchased a new position in Arqit Quantum in the 4th quarter valued at approximately $75,000. Jones Financial Companies Lllp boosted its position in Arqit Quantum by 333.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,206 shares of the company’s stock valued at $80,000 after buying an additional 1,697 shares during the period. Finally, Leonteq Securities AG acquired a new position in shares of Arqit Quantum in the fourth quarter worth $98,000. Institutional investors and hedge funds own 16.60% of the company’s stock.

Arqit Quantum Company Profile

Arqit Quantum Inc is a UK‐based cybersecurity company specializing in quantum-safe encryption solutions designed to protect sensitive data from current and emerging cyber threats. The company’s core technology leverages principles of quantum physics to generate and distribute encryption keys in a way that remains impervious to attacks, including those enabled by future quantum computers. Arqit’s platform is designed to integrate with existing IT infrastructures without requiring hardware upgrades, offering end‐to‐end data protection for enterprises, governments and critical infrastructure providers.

The company’s flagship QuantumCloud platform uses a patented key distribution architecture to deliver symmetrical keys to endpoints across distributed networks.