Arqit Quantum Inc. $ARQQ Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC grew its position in Arqit Quantum Inc. (NASDAQ:ARQQ) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,021,248 shares of the company’s stock after acquiring an additional 308,942 shares during the quarter. Penserra Capital Management LLC owned about 6.70% of Arqit Quantum worth $39,573,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ARQQ. Legal & General Group Plc acquired a new position in Arqit Quantum in the 2nd quarter valued at $2,687,000. Raymond James Financial Inc. grew its holdings in shares of Arqit Quantum by 120.6% during the second quarter. Raymond James Financial Inc. now owns 45,397 shares of the company’s stock worth $1,681,000 after buying an additional 24,822 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Arqit Quantum by 17.5% in the second quarter. SBI Securities Co. Ltd. now owns 36,590 shares of the company’s stock valued at $1,355,000 after buying an additional 5,445 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Arqit Quantum in the second quarter worth about $800,000. Finally, Royal Bank of Canada boosted its position in Arqit Quantum by 222.9% during the first quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock worth $284,000 after acquiring an additional 14,186 shares during the last quarter. 16.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ARQQ. Weiss Ratings reiterated a “sell (d)” rating on shares of Arqit Quantum in a report on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating on shares of Arqit Quantum in a report on Thursday, December 18th. Finally, Wall Street Zen downgraded Arqit Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.00.

Arqit Quantum Stock Down 1.9%

ARQQ stock opened at $19.79 on Wednesday. Arqit Quantum Inc. has a one year low of $11.00 and a one year high of $62.00. The firm’s 50 day moving average price is $25.64 and its 200-day moving average price is $32.50.

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.