Key Points
- CEO Andrew Leaver sold 2,573 Arqit Quantum shares at an average price of $16.40, generating $42,197.20 and reducing his direct ownership by 4.55% to 53,966 shares.
- Leaver also sold shares in three earlier transactions from October 2–6, totaling 7,751 shares at prices ranging from $23.78 to $24.47.
- Arqit shares opened at $15.90, well below their 12-month high of $53.60. Analyst sentiment remains cautious, with the stock carrying an average “Hold” rating and 16.60% institutional ownership.
Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) CEO Andrew Leaver sold 2,573 shares of the business's stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $16.40, for a total transaction of $42,197.20. Following the transaction, the chief executive officer directly owned 53,966 shares of the company's stock, valued at $885,042.40. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Andrew Leaver also recently made the following trade(s):
- On Tuesday, October 6th, Andrew Leaver sold 2,398 shares of Arqit Quantum stock. The shares were sold at an average price of $24.19, for a total transaction of $58,007.62.
- On Monday, October 5th, Andrew Leaver sold 2,535 shares of Arqit Quantum stock. The shares were sold at an average price of $23.78, for a total transaction of $60,282.30.
- On Friday, October 2nd, Andrew Leaver sold 2,818 shares of Arqit Quantum stock. The stock was sold at an average price of $24.47, for a total transaction of $68,956.46.
Arqit Quantum Stock Performance
Shares of ARQQ stock opened at $15.90 on Friday. Arqit Quantum Inc. has a 12-month low of $11.52 and a 12-month high of $53.60. The firm's 50 day moving average is $21.26 and its 200 day moving average is $18.64.
Institutional Investors Weigh In On Arqit Quantum
A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Arqit Quantum by 133.4% during the 1st quarter. Royal Bank of Canada now owns 7,012 shares of the company's stock valued at $92,000 after purchasing an additional 4,008 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Arqit Quantum during the 2nd quarter valued at about $234,000. True Vision MN LLC purchased a new stake in shares of Arqit Quantum during the 1st quarter valued at about $197,000. Renaissance Technologies LLC bought a new position in shares of Arqit Quantum in the 1st quarter worth approximately $549,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Arqit Quantum in the 2nd quarter worth approximately $2,947,000. 16.60% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Weiss Ratings cut Arqit Quantum from a "sell (d)" rating to a "sell (e+)" rating in a report on Thursday, October 8th. Wall Street Zen upgraded Arqit Quantum from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arqit Quantum currently has an average rating of "Hold".
Get Our Latest Report on Arqit Quantum
About Arqit Quantum
(
Get Free Report)
Arqit Quantum Inc is a cybersecurity company that develops encryption technology designed to protect data and communications against current and future cyber threats, including potential attacks enabled by quantum computing. The company's solutions are intended for governments, enterprises and other organizations that need to secure sensitive information across networks, devices and cloud environments.
Arqit's principal offering is QuantumCloud, a cloud-based platform designed to enable the creation and management of secure encryption keys.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
