Patrick Willcocks Sells 1,790 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 1,790 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $13.32, for a total transaction of $23,842.80. Following the sale, the general counsel owned 11,916 shares in the company, valued at $158,721.12. The trade was a 13.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arqit Quantum Price Performance

NASDAQ:ARQQ remained flat at $13.97 during mid-day trading on Friday. 188,327 shares of the company were exchanged, compared to its average volume of 189,941. Arqit Quantum Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $62.00. The business has a 50 day simple moving average of $16.26 and a 200-day simple moving average of $27.38.

Analyst Ratings Changes

Several research firms recently weighed in on ARQQ. Wall Street Zen lowered Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. HC Wainwright reissued a “buy” rating on shares of Arqit Quantum in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Arqit Quantum in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Defiance ETFs LLC bought a new position in shares of Arqit Quantum in the 4th quarter valued at $30,248,000. Kestra Advisory Services LLC bought a new stake in Arqit Quantum during the 4th quarter worth $40,000. Wells Fargo & Company MN grew its position in Arqit Quantum by 304.9% during the 4th quarter. Wells Fargo & Company MN now owns 10,195 shares of the company’s stock worth $223,000 after acquiring an additional 7,677 shares during the last quarter. Leonteq Securities AG acquired a new position in Arqit Quantum in the 4th quarter worth about $98,000. Finally, Kessler Investment Group LLC acquired a new position in Arqit Quantum in the 4th quarter worth about $1,047,000. 16.60% of the stock is currently 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.