Insider Selling: Arqit Quantum (NASDAQ:ARQQ) Director Sells $662,201.54 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 22,022 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $30.07, for a total transaction of $662,201.54. Following the transaction, the director directly owned 4,374,870 shares in the company, valued at $131,552,340.90. The trade was a 0.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

D’ovidio Manfredi Lefebvre also recently made the following trade(s):

• On Wednesday, July 1st, D’ovidio Manfredi Lefebvre sold 32,422 shares of Arqit Quantum stock. The shares were sold at an average price of $30.24, for a total value of $980,441.28.

Arqit Quantum Trading Down 18.5%

NASDAQ ARQQ traded down $5.34 on Thursday, hitting $23.51. 1,123,538 shares of the stock traded hands, compared to its average volume of 546,260. The stock has a 50-day moving average of $17.36 and a 200 day moving average of $18.44. Arqit Quantum Inc. has a twelve month low of $11.52 and a twelve month high of $62.00.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ARQQ. Wall Street Zen raised Arqit Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings raised shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.00.

Institutional Investors Weigh In On Arqit Quantum

Several large investors have recently made changes to their positions in the company. Defiance ETFs LLC acquired a new position in Arqit Quantum during the 4th quarter worth $30,248,000. UBS Group AG increased its holdings in shares of Arqit Quantum by 92.5% during the fourth quarter. UBS Group AG now owns 147,397 shares of the company’s stock valued at $3,225,000 after purchasing an additional 70,811 shares during the period. Kessler Investment Group LLC bought a new stake in shares of Arqit Quantum during the fourth quarter valued at about $1,047,000. Renaissance Technologies LLC bought a new stake in shares of Arqit Quantum during the first quarter valued at about $549,000. Finally, Raymond James Financial Inc. lifted its holdings in Arqit Quantum by 86.6% in the third quarter. Raymond James Financial Inc. now owns 84,713 shares of the company’s stock worth $3,283,000 after purchasing an additional 39,316 shares during the period. Institutional investors and hedge funds own 16.60% of the company’s stock.

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.