Arqit Quantum (NASDAQ:ARQQ) CRO Sells $177,528.96 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) CRO Jennifer Bers sold 8,288 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $21.42, for a total transaction of $177,528.96. Following the sale, the executive owned 6,712 shares of the company’s stock, valued at approximately $143,771.04. This represents a 55.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Arqit Quantum Stock Down 11.2%

Shares of NASDAQ ARQQ opened at $24.26 on Friday. The stock has a fifty day moving average price of $16.61 and a 200 day moving average price of $18.54. Arqit Quantum Inc. has a 1-year low of $11.52 and a 1-year high of $62.00.

Institutional Trading of Arqit Quantum

A number of institutional investors have recently added to or reduced their stakes in ARQQ. National Bank of Canada FI acquired a new position in Arqit Quantum during the third quarter worth about $27,000. Envestnet Asset Management Inc. lifted its position in shares of Arqit Quantum by 11.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 13,002 shares of the company’s stock valued at $504,000 after acquiring an additional 1,299 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Arqit Quantum during the 4th quarter worth approximately $40,000. MASO CAPITAL PARTNERS Ltd purchased a new stake in shares of Arqit Quantum during the 3rd quarter worth approximately $110,000. Finally, Legal & General Group Plc grew its holdings in shares of Arqit Quantum by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 75,771 shares of the company’s stock worth $2,936,000 after acquiring an additional 3,205 shares during the period. Hedge funds and other institutional investors own 16.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Arqit Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings raised Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.