Arqit Quantum (NASDAQ:ARQQ) Director Sells $662,201.54 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 22,022 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $30.07, for a total transaction of $662,201.54. Following the sale, the director owned 4,374,870 shares in the company, valued at $131,552,340.90. This trade represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

D’ovidio Manfredi Lefebvre also recently made the following trade(s):

• On Wednesday, July 1st, D’ovidio Manfredi Lefebvre sold 32,422 shares of Arqit Quantum stock. The shares were sold at an average price of $30.24, for a total transaction of $980,441.28.

Arqit Quantum Price Performance

Shares of NASDAQ ARQQ traded down $5.34 during mid-day trading on Thursday, reaching $23.51. 1,123,538 shares of the company traded hands, compared to its average volume of 546,260. Arqit Quantum Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $62.00. The stock has a fifty day simple moving average of $17.36 and a 200-day simple moving average of $18.44.

Institutional Investors Weigh In On Arqit Quantum

Several hedge funds have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in shares of Arqit Quantum in the 3rd quarter valued at $27,000. Kestra Advisory Services LLC acquired a new stake in Arqit Quantum during the 4th quarter worth about $40,000. Flagship Harbor Advisors LLC acquired a new stake in Arqit Quantum during the 4th quarter worth about $75,000. Royal Bank of Canada raised its holdings in Arqit Quantum by 133.4% during the 1st quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock worth $92,000 after buying an additional 4,008 shares during the period. Finally, Leonteq Securities AG purchased a new stake in Arqit Quantum during the fourth quarter valued at about $98,000. 16.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ARQQ. Weiss Ratings raised Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. Wall Street Zen raised Arqit Quantum from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. 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, Arqit Quantum has an average rating of “Hold” and a consensus price target of $60.00.

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.