Arqit Quantum (NASDAQ:ARQQ) Upgraded at Wall Street Zen

Arqit Quantum (NASDAQ:ARQQ) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings raised shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.00.

Arqit Quantum Stock Performance

NASDAQ:ARQQ opened at $24.38 on Friday. The company has a fifty day moving average of $15.36 and a 200-day moving average of $18.64. Arqit Quantum has a twelve month low of $11.52 and a twelve month high of $62.00.

Insiders Place Their Bets

In related news, CEO Andrew Leaver sold 7,595 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.51, for a total transaction of $102,608.45. Following the transaction, the chief executive officer directly owned 45,751 shares of the company’s stock, valued at approximately $618,096.01. This represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 14,356 shares of company stock worth $193,732. 54.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arqit Quantum

Several hedge funds and other institutional investors have recently modified their holdings of ARQQ. National Bank of Canada FI acquired a new position in shares of Arqit Quantum during the third quarter worth approximately $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 acquired a new stake in Arqit Quantum in the 4th quarter valued at $75,000. Royal Bank of Canada increased its stake in Arqit Quantum by 133.4% during the 1st quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock valued at $92,000 after purchasing an additional 4,008 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Arqit Quantum during the 4th quarter valued at $98,000. Institutional investors own 16.60% of the company’s stock.

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.