Andrew Leaver Sells 7,595 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) CEO Andrew Leaver sold 7,595 shares of Arqit Quantum stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.51, for a total transaction of $102,608.45. Following the transaction, the chief executive officer directly owned 45,751 shares of the company’s stock, valued at approximately $618,096.01. This trade represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Arqit Quantum Stock Up 2.5%

NASDAQ:ARQQ opened at $12.86 on Thursday. The company has a 50 day moving average price of $15.64 and a 200-day moving average price of $26.81. Arqit Quantum Inc. has a 1-year low of $11.52 and a 1-year high of $62.00.

Institutional Investors Weigh In On Arqit Quantum

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI purchased a new stake in Arqit Quantum in the 3rd quarter worth $27,000. Kestra Advisory Services LLC purchased a new stake in Arqit Quantum in the 4th quarter worth $40,000. Jones Financial Companies Lllp increased its holdings in Arqit Quantum by 333.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,206 shares of the company’s stock worth $80,000 after acquiring an additional 1,697 shares in the last quarter. MASO CAPITAL PARTNERS Ltd purchased a new stake in Arqit Quantum in the 3rd quarter worth $110,000. Finally, Quantbot Technologies LP acquired a new stake in Arqit Quantum during the 2nd quarter worth $122,000. Hedge funds and other institutional investors own 16.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ARQQ. HC Wainwright reaffirmed a “buy” rating on shares of Arqit Quantum in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Arqit Quantum in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Arqit Quantum from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently 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.