D’ovidio Manfredi Lefebvre Sells 32,422 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 32,422 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $30.24, for a total transaction of $980,441.28. Following the sale, the director directly owned 4,342,448 shares in the company, valued at approximately $131,315,627.52. This represents a 0.74% decrease in their position. The transaction 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 transaction of $662,201.54.

Arqit Quantum Price Performance

NASDAQ ARQQ opened at $23.51 on Friday. The stock’s fifty day moving average price is $17.69 and its 200 day moving average price is $18.45. Arqit Quantum Inc. has a 1 year low of $11.52 and a 1 year high of $62.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Arqit Quantum by 222.9% in the first quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock valued at $284,000 after purchasing an additional 14,186 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Arqit Quantum during the 2nd quarter valued at about $268,000. JPMorgan Chase & Co. purchased a new position in shares of Arqit Quantum during the 2nd quarter valued at about $386,000. Quantbot Technologies LP acquired a new position in shares of Arqit Quantum in the 2nd quarter valued at about $122,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Arqit Quantum by 120.6% in the second quarter. Raymond James Financial Inc. now owns 45,397 shares of the company’s stock worth $1,681,000 after buying an additional 24,822 shares during the last quarter. Hedge funds and other institutional investors own 16.60% of the company’s stock.

Analyst Ratings Changes

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