Arqit Quantum (NASDAQ:ARQQ) General Counsel Patrick Willcocks Sells 4,000 Shares

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $29.48, for a total value of $117,920.00. Following the completion of the sale, the general counsel directly owned 7,916 shares in the company, valued at approximately $233,363.68. This represents a 33.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Arqit Quantum Price Performance

Arqit Quantum stock opened at $23.51 on Friday. Arqit Quantum Inc. has a 52 week low of $11.52 and a 52 week high of $62.00. The stock has a fifty day moving average of $17.54 and a 200-day moving average of $18.41.

Institutional Investors Weigh In On Arqit Quantum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Defiance ETFs LLC bought a new position in shares of Arqit Quantum during the fourth quarter worth about $30,248,000. UBS Group AG boosted its holdings in Arqit Quantum by 92.5% in the fourth quarter. UBS Group AG now owns 147,397 shares of the company’s stock valued at $3,225,000 after acquiring an additional 70,811 shares during the last quarter. Raymond James Financial Inc. increased its position in Arqit Quantum by 86.6% during the 3rd quarter. Raymond James Financial Inc. now owns 84,713 shares of the company’s stock valued at $3,283,000 after purchasing an additional 39,316 shares during the period. Legal & General Group Plc increased its position in Arqit Quantum by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 75,771 shares of the company’s stock valued at $2,936,000 after purchasing an additional 3,205 shares during the period. Finally, Kessler Investment Group LLC bought a new position in Arqit Quantum during the 4th quarter worth approximately $1,047,000. Institutional investors and hedge funds own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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 note on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.00.

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.