Insider Selling: Arqit Quantum (NASDAQ:ARQQ) Director Sells $980,441.28 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 32,422 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $30.24, for a total value of $980,441.28. Following the completion of the transaction, the director owned 4,342,448 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink.

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 stock was sold at an average price of $30.07, for a total value of $662,201.54.

Arqit Quantum Price Performance

Shares of NASDAQ:ARQQ opened at $23.51 on Friday. Arqit Quantum Inc. has a 52 week low of $11.52 and a 52 week high of $62.00. The business has a fifty day simple moving average of $17.69 and a 200-day simple moving average of $18.45.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen upgraded 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 research note on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.00.

Institutional Trading of Arqit Quantum

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of 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 during the last quarter. Renaissance Technologies LLC acquired a new position in Arqit Quantum in the first quarter valued at $549,000. True Vision MN LLC purchased a new stake in Arqit Quantum during the first quarter valued at about $197,000. Defiance ETFs LLC purchased a new stake in Arqit Quantum during the fourth quarter valued at about $30,248,000. Finally, Kestra Advisory Services LLC acquired a new stake in Arqit Quantum during the fourth quarter worth about $40,000. 16.60% of the stock is owned by hedge funds and other institutional investors.

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.