Patrick Willcocks Sells 1,790 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 1,790 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $13.32, for a total value of $23,842.80. Following the completion of the transaction, the general counsel directly owned 11,916 shares of the company’s stock, valued at $158,721.12. The trade was a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Arqit Quantum Stock Performance

Shares of NASDAQ ARQQ opened at $13.97 on Friday. Arqit Quantum Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $62.00. The stock has a fifty day moving average of $16.26 and a 200-day moving average of $27.34.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc bought a new position in Arqit Quantum in the 2nd quarter worth $2,687,000. Penserra Capital Management LLC boosted its position in Arqit Quantum by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 1,021,248 shares of the company’s stock valued at $39,573,000 after acquiring an additional 308,942 shares in the last quarter. Veracity Capital LLC grew its holdings in shares of Arqit Quantum by 11.0% during the 3rd quarter. Veracity Capital LLC now owns 13,020 shares of the company’s stock worth $505,000 after acquiring an additional 1,291 shares during the period. UBS Group AG lifted its stake in shares of 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 purchasing an additional 70,811 shares during the period. Finally, Kessler Investment Group LLC purchased a new position in Arqit Quantum during the fourth quarter valued at $1,047,000. Hedge funds and other institutional investors own 16.60% of the company’s stock.

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.