Arqit Quantum (NASDAQ:ARQQ) CRO Sells $21,738.24 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) CRO Paul Feenan sold 1,632 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $13.32, for a total transaction of $21,738.24. Following the completion of the sale, the executive directly owned 17,963 shares of the company’s stock, valued at approximately $239,267.16. This represents a 8.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arqit Quantum Price Performance

NASDAQ:ARQQ opened at $13.97 on Monday. The stock’s fifty day moving average price is $16.26 and its two-hundred day moving average price is $27.28. Arqit Quantum Inc. has a 52-week low of $11.00 and a 52-week high of $62.00.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARQQ. Wall Street Zen lowered Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. HC Wainwright reiterated a “buy” rating on shares of Arqit Quantum in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Arqit Quantum in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arqit Quantum presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in Arqit Quantum in the second quarter valued at approximately $2,687,000. Penserra Capital Management LLC boosted its position in shares of Arqit Quantum by 43.4% during the third quarter. Penserra Capital Management LLC now owns 1,021,248 shares of the company’s stock worth $39,573,000 after purchasing an additional 308,942 shares in the last quarter. Veracity Capital LLC increased its position in shares of Arqit Quantum by 11.0% in the 3rd quarter. Veracity Capital LLC now owns 13,020 shares of the company’s stock valued at $505,000 after buying an additional 1,291 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Arqit Quantum in the 2nd quarter valued at $122,000. Finally, Kestra Advisory Services LLC acquired a new stake in Arqit Quantum during the 4th quarter worth $40,000. Institutional investors own 16.60% of the company’s stock.

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.