Arqit Quantum (NASDAQ:ARQQ) General Counsel Sells $23,842.80 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 1,790 shares of Arqit Quantum 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 $23,842.80. Following the transaction, the general counsel directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arqit Quantum Stock Performance

ARQQ opened at $13.97 on Monday. Arqit Quantum Inc. has a 52-week low of $11.00 and a 52-week high of $62.00. The company has a 50 day moving average of $16.26 and a two-hundred day moving average of $27.28.

Wall Street Analysts Forecast Growth

ARQQ has been the subject of a number of research reports. Wall Street Zen cut shares of Arqit Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. HC Wainwright restated a “buy” rating on shares of Arqit Quantum in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Arqit Quantum in a research 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.00.

Institutional Inflows and Outflows

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

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.