Arqit Quantum (NASDAQ:ARQQ) Director Sells $662,201.54 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 22,022 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $30.07, for a total value of $662,201.54. Following the transaction, the director owned 4,374,870 shares in the company, valued at approximately $131,552,340.90. This trade represents a 0.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $980,441.28.

Arqit Quantum Price Performance

Shares of ARQQ stock opened at $23.51 on Friday. The stock has a 50-day moving average of $17.69 and a 200-day moving average of $18.45. Arqit Quantum Inc. has a one year low of $11.52 and a one year high of $62.00.

Institutional Trading of Arqit Quantum

Large investors have recently bought and sold shares of the business. Defiance ETFs LLC acquired a new stake in Arqit Quantum during the 4th quarter worth approximately $30,248,000. UBS Group AG boosted its holdings in shares of Arqit Quantum by 92.5% in the fourth quarter. UBS Group AG now owns 147,397 shares of the company’s stock valued at $3,225,000 after buying an additional 70,811 shares during the period. Raymond James Financial Inc. increased its position in shares of Arqit Quantum by 86.6% during the third quarter. Raymond James Financial Inc. now owns 84,713 shares of the company’s stock worth $3,283,000 after acquiring an additional 39,316 shares in the last quarter. Legal & General Group Plc increased its position in shares of Arqit Quantum by 4.4% during the third 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 in the last quarter. Finally, Kessler Investment Group LLC bought a new stake in shares of Arqit Quantum during the fourth quarter worth $1,047,000. 16.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARQQ has been the topic of several analyst reports. Wall Street Zen upgraded shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Weiss Ratings raised shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arqit Quantum presently has an average rating of “Hold” and an average target price 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.