Arqit Quantum (NASDAQ:ARQQ) General Counsel Patrick Willcocks Sells 2,009 Shares of Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 2,009 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $25.20, for a total transaction of $50,626.80. Following the transaction, the general counsel owned 9,462 shares in the company, valued at approximately $238,442.40. This trade represents a 17.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Patrick Willcocks also recently made the following trade(s):

• On Tuesday, June 30th, Patrick Willcocks sold 4,000 shares of Arqit Quantum stock. The shares were sold at an average price of $29.48, for a total transaction of $117,920.00.

Arqit Quantum Stock Down 8.9%

Shares of ARQQ opened at $20.15 on Tuesday. Arqit Quantum Inc. has a twelve month low of $11.52 and a twelve month high of $62.00. The stock’s 50 day moving average is $17.85 and its two-hundred day moving average is $18.39.

Analyst Ratings Changes

A number of research firms recently weighed in on ARQQ. Wall Street Zen upgraded 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 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Arqit Quantum by 133.4% in the first quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock valued at $92,000 after buying an additional 4,008 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Arqit Quantum in the 1st quarter worth approximately $549,000. True Vision MN LLC acquired a new stake in shares of Arqit Quantum in the 1st quarter worth approximately $197,000. Defiance ETFs LLC purchased a new position in Arqit Quantum in the 4th quarter valued at approximately $30,248,000. Finally, Kestra Advisory Services LLC purchased a new position in Arqit Quantum in the 4th quarter valued at approximately $40,000. 16.60% of the stock is currently owned by institutional investors and hedge funds.

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.