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

Arqit Quantum Inc. (NASDAQ:ARQQ) CEO Andrew Leaver sold 7,595 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.51, for a total value of $102,608.45. Following the completion of the sale, the chief executive officer directly owned 45,751 shares in the company, valued at $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 available through this hyperlink.

Arqit Quantum Stock Down 5.8%

NASDAQ:ARQQ opened at $12.55 on Wednesday. The stock’s 50-day simple moving average is $15.85 and its 200 day simple moving average is $26.91. Arqit Quantum Inc. has a twelve month low of $11.52 and a twelve month high of $62.00.

Hedge Funds Weigh In On Arqit Quantum

Several large investors have recently bought and sold shares of ARQQ. National Bank of Canada FI bought a new position in Arqit Quantum in the third quarter valued at about $27,000. Kestra Advisory Services LLC bought a new position in Arqit Quantum in the fourth quarter valued at about $40,000. Flagship Harbor Advisors LLC bought a new position in Arqit Quantum in the fourth quarter valued at about $75,000. Jones Financial Companies Lllp raised its position in shares of Arqit Quantum by 333.4% during the third 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 during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Arqit Quantum during the fourth quarter worth about $98,000. 16.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ARQQ shares. Wall Street Zen downgraded Arqit Quantum from a “hold” rating to a “sell” rating in a research report 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 reiterated a “sell (d)” rating on shares of Arqit Quantum in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.00.

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.