Arqit Quantum (NASDAQ:ARQQ) CEO Andrew Leaver Sells 7,595 Shares

Arqit Quantum Inc. (NASDAQ:ARQQ) CEO Andrew Leaver sold 7,595 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.51, for a total value of $102,608.45. Following the completion of the sale, the chief executive officer directly owned 45,751 shares in the company, valued at approximately $618,096.01. The trade was a 14.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arqit Quantum Stock Down 5.3%

Shares of Arqit Quantum stock traded down $0.71 during trading hours on Tuesday, reaching $12.62. 104,922 shares of the company were exchanged, compared to its average volume of 241,009. Arqit Quantum Inc. has a 1 year low of $11.52 and a 1 year high of $62.00. The stock’s fifty day moving average is $16.06 and its 200 day moving average is $27.11.

Institutional Investors Weigh In On Arqit Quantum

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

Analyst Ratings Changes

ARQQ has been the subject of a number of research reports. Wall Street Zen cut Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. HC Wainwright reiterated a “buy” rating on shares of Arqit Quantum in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Arqit Quantum in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arqit Quantum has a consensus rating of “Hold” and a consensus target price of $60.00.

About Arqit Quantum

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.