Andrew Leaver Sells 9,893 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) CEO Andrew Leaver sold 9,893 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $25.20, for a total value of $249,303.60. Following the sale, the chief executive officer owned 51,483 shares in the company, valued at approximately $1,297,371.60. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arqit Quantum Stock Performance

NASDAQ ARQQ opened at $19.84 on Wednesday. Arqit Quantum Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $62.00. The business has a 50 day moving average price of $17.95 and a two-hundred day moving average price of $18.37.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ARQQ shares. Weiss Ratings raised shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.00.

Hedge Funds Weigh In On Arqit Quantum

A number of institutional investors have recently made changes to their positions in the business. National Bank of Canada FI purchased a new position in shares of Arqit Quantum during the 3rd quarter valued at approximately $27,000. Envestnet Asset Management Inc. raised its holdings in Arqit Quantum by 11.1% in the third quarter. Envestnet Asset Management Inc. now owns 13,002 shares of the company’s stock valued at $504,000 after acquiring an additional 1,299 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Arqit Quantum during the 4th quarter valued at $40,000. MASO CAPITAL PARTNERS Ltd bought a new position in Arqit Quantum during the 3rd quarter valued at $110,000. Finally, Legal & General Group Plc grew its holdings in Arqit Quantum by 4.4% during the 3rd 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. 16.60% of the stock is owned by institutional investors and hedge funds.

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.