Patrick Willcocks Sells 2,009 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 2,009 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $25.20, for a total transaction of $50,626.80. Following the sale, the general counsel owned 9,462 shares of the company’s stock, valued at $238,442.40. This trade represents a 17.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Patrick Willcocks also recently made the following trade(s):

• On Tuesday, June 30th, Patrick Willcocks sold 4,000 shares of Arqit Quantum stock. The shares were sold at an average price of $29.48, for a total transaction of $117,920.00.

Arqit Quantum Trading Down 5.9%

Shares of NASDAQ:ARQQ traded down $1.38 during midday trading on Monday, hitting $22.13. 712,318 shares of the company’s stock were exchanged, compared to its average volume of 547,644. Arqit Quantum Inc. has a 12 month low of $11.52 and a 12 month high of $62.00. The stock has a 50 day moving average price of $17.69 and a 200-day moving average price of $18.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARQQ. Weiss Ratings upgraded Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Arqit Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. National Bank of Canada FI bought a new stake in Arqit Quantum in the 3rd quarter valued at about $27,000. Kestra Advisory Services LLC purchased a new position in shares of Arqit Quantum in the fourth quarter worth about $40,000. MASO CAPITAL PARTNERS Ltd purchased a new position in shares of Arqit Quantum in the third quarter worth about $110,000. Quantbot Technologies LP bought a new stake in shares of Arqit Quantum in the second quarter valued at approximately $122,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Arqit Quantum in the fourth quarter valued at approximately $75,000. 16.60% of the stock is owned by institutional investors.

Arqit Quantum Company Profile

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.