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 business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $13.32, for a total value of $23,842.80. Following the sale, the general counsel owned 11,916 shares in the company, valued at approximately $158,721.12. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Arqit Quantum Price Performance

Shares of Arqit Quantum stock remained flat at $13.97 on Friday. The stock had a trading volume of 188,327 shares, compared to its average volume of 189,941. The company has a fifty day moving average of $16.26 and a 200 day moving average of $27.38. Arqit Quantum Inc. has a one year low of $11.00 and a one year high of $62.00.

Institutional Trading of Arqit Quantum

Institutional investors have recently added to or reduced their stakes in the stock. Defiance ETFs LLC bought a new position in Arqit Quantum during the 4th quarter worth approximately $30,248,000. Penserra Capital Management LLC boosted its stake in shares of Arqit Quantum by 43.4% in the 3rd quarter. Penserra Capital Management LLC now owns 1,021,248 shares of the company’s stock valued at $39,573,000 after purchasing an additional 308,942 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Arqit Quantum in the 2nd quarter valued at $2,687,000. UBS Group AG increased its position in shares of Arqit Quantum by 92.5% during the fourth quarter. UBS Group AG now owns 147,397 shares of the company’s stock worth $3,225,000 after buying an additional 70,811 shares during the period. Finally, Kessler Investment Group LLC acquired a new stake in shares of Arqit Quantum during the fourth quarter worth $1,047,000. 16.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Arqit Quantum in a research note on Wednesday, January 21st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Arqit Quantum in a research report on Thursday, December 18th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arqit Quantum has an average rating of “Hold” and an average price target 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.