Key Points
- Arqit Quantum director D'ovidio Manfredi Lefebvre sold 32,422 shares on July 1 at an average price of $30.24, generating about $980,441 in proceeds. The sale reduced his direct stake by 0.74% to 4,342,448 shares.
- He also made another sale the previous day, disposing of 22,022 shares on June 30 for about $662,202 at an average price of $30.07.
- Arqit Quantum shares were trading at $23.51 when the article was published, below the insider sale prices. Analysts currently have an average rating of Hold on the stock, with a consensus price target of $60.00.
Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) General Counsel Patrick Willcocks sold 4,000 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $29.48, for a total transaction of $117,920.00. Following the completion of the transaction, the general counsel owned 7,916 shares in the company, valued at approximately $233,363.68. The trade was a 33.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Arqit Quantum Stock Down 18.5%
Shares of ARQQ opened at $23.51 on Friday. The firm's fifty day simple moving average is $17.54 and its two-hundred day simple moving average is $18.41. Arqit Quantum Inc. has a 12 month low of $11.52 and a 12 month high of $62.00.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ARQQ. Royal Bank of Canada lifted its stake in shares of Arqit Quantum by 133.4% in the first quarter. Royal Bank of Canada now owns 7,012 shares of the company's stock valued at $92,000 after buying an additional 4,008 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Arqit Quantum during the first quarter worth about $549,000. True Vision MN LLC bought a new stake in shares of Arqit Quantum during the first quarter worth about $197,000. Defiance ETFs LLC acquired a new stake in shares of Arqit Quantum in the 4th quarter worth about $30,248,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Arqit Quantum in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 16.60% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently commented on ARQQ shares. Wall Street Zen upgraded Arqit Quantum from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 20th. Weiss Ratings raised Arqit Quantum from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arqit Quantum currently has a consensus rating of "Hold" and a consensus price target of $60.00.
Read Our Latest Research Report on Arqit Quantum
Arqit Quantum Company Profile
(
Get Free Report)
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.
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