Key Points
- Arqit Quantum CEO Andrew Leaver sold 9,893 shares on July 2 at an average price of $25.20, totaling about $249,304. After the sale, he still owned 51,483 shares, and the transaction cut his stake by 16.12%.
- ARQQ shares were trading at $22.13 when the report was published, below the stock’s 52-week high of $62.00 but above its 52-week low of $11.52.
- Analyst sentiment is mixed but cautious, with one Buy and one Sell rating resulting in a consensus “Hold” and an average price target of $60.00.
Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) Director Garth Ritchie sold 439 shares of Arqit Quantum stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $25.20, for a total transaction of $11,062.80. Following the sale, the director directly owned 104,609 shares in the company, valued at $2,636,146.80. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Arqit Quantum Stock Performance
NASDAQ:ARQQ traded down $2.19 on Tuesday, reaching $19.94. The stock had a trading volume of 165,116 shares, compared to its average volume of 543,567. The company has a 50-day moving average of $17.85 and a 200 day moving average of $18.39. Arqit Quantum Inc. has a 12-month low of $11.52 and a 12-month high of $62.00.
Hedge Funds Weigh In On Arqit Quantum
Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in Arqit Quantum in the third quarter worth $27,000. Envestnet Asset Management Inc. raised its holdings in shares of Arqit Quantum by 11.1% during the third quarter. Envestnet Asset Management Inc. now owns 13,002 shares of the company's stock worth $504,000 after purchasing an additional 1,299 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Arqit Quantum during the fourth quarter worth $40,000. MASO CAPITAL PARTNERS Ltd bought a new position in shares of Arqit Quantum in the 3rd quarter worth about $110,000. Finally, Legal & General Group Plc lifted its position in shares of Arqit Quantum by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 75,771 shares of the company's stock worth $2,936,000 after buying an additional 3,205 shares during the last quarter. 16.60% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on ARQQ shares. Wall Street Zen upgraded Arqit Quantum from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Arqit Quantum from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $60.00.
View Our Latest Report on ARQQ
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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