D’ovidio Manfredi Lefebvre Sells 32,422 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 32,422 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $30.24, for a total transaction of $980,441.28. Following the sale, the director directly owned 4,342,448 shares in the company, valued at $131,315,627.52. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

D’ovidio Manfredi Lefebvre also recently made the following trade(s):

• On Tuesday, June 30th, D’ovidio Manfredi Lefebvre sold 22,022 shares of Arqit Quantum stock. The shares were sold at an average price of $30.07, for a total transaction of $662,201.54.

Arqit Quantum Stock Down 18.5%

ARQQ traded down $5.34 during trading hours on Thursday, reaching $23.51. The company’s stock had a trading volume of 1,123,538 shares, compared to its average volume of 546,260. The company’s 50-day moving average is $17.36 and its 200-day moving average is $18.44. Arqit Quantum Inc. has a 52 week low of $11.52 and a 52 week high of $62.00.

Institutional Trading of Arqit Quantum

A number of institutional investors have recently modified their holdings of the business. Kessler Investment Group LLC purchased a new stake in Arqit Quantum in the 4th quarter worth approximately $1,047,000. UBS Group AG grew its position in Arqit Quantum by 92.5% during the 4th quarter. UBS Group AG now owns 147,397 shares of the company’s stock worth $3,225,000 after acquiring an additional 70,811 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Arqit Quantum during the third quarter valued at about $27,000. Quantbot Technologies LP purchased a new stake in Arqit Quantum in the 2nd quarter worth approximately $122,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Arqit Quantum during the first quarter valued at about $549,000. 16.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, May 26th. One 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.com, the company 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.