Arqit Quantum (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre Sells 22,022 Shares of Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 22,022 shares of Arqit Quantum stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $30.07, for a total transaction of $662,201.54. Following the completion of the transaction, the director directly owned 4,374,870 shares in the company, valued at approximately $131,552,340.90. The trade was a 0.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, July 1st, D’ovidio Manfredi Lefebvre sold 32,422 shares of Arqit Quantum stock. The shares were sold at an average price of $30.24, for a total transaction of $980,441.28.

Arqit Quantum Price Performance

Shares of ARQQ stock opened at $23.51 on Friday. The firm has a fifty day moving average of $17.54 and a 200-day moving average of $18.41. Arqit Quantum Inc. has a 12-month low of $11.52 and a 12-month high of $62.00.

Institutional Trading of Arqit Quantum

A number of institutional investors have recently made changes to their positions in ARQQ. National Bank of Canada FI acquired a new position in Arqit Quantum during the third quarter worth $27,000. Kestra Advisory Services LLC acquired a new stake in Arqit Quantum in the 4th quarter valued at $40,000. Flagship Harbor Advisors LLC bought a new stake in Arqit Quantum during the 4th quarter worth about $75,000. Royal Bank of Canada lifted its position in Arqit Quantum by 133.4% during the 1st quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock worth $92,000 after buying an additional 4,008 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Arqit Quantum during the 4th quarter worth about $98,000. Institutional investors own 16.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ARQQ shares. Wall Street Zen raised Arqit Quantum from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Weiss Ratings raised Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a research 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 stock. According to MarketBeat, Arqit Quantum currently has an average 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.