Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) CRO Jennifer Bers sold 8,288 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.42, for a total value of $177,528.96. Following the sale, the executive owned 6,712 shares of the company’s stock, valued at approximately $143,771.04. This trade represents a 55.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Arqit Quantum Stock Performance
Shares of NASDAQ ARQQ traded down $0.40 during mid-day trading on Wednesday, reaching $28.64. 1,652,265 shares of the company traded hands, compared to its average volume of 524,919. The company’s fifty day moving average is $15.87 and its two-hundred day moving average is $18.54. Arqit Quantum Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $62.00.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.00.
Hedge Funds Weigh In On Arqit Quantum
Large investors have recently made changes to their positions in the business. Defiance ETFs LLC bought a new stake in Arqit Quantum during the 4th quarter valued at approximately $30,248,000. UBS Group AG grew its position in Arqit Quantum by 92.5% in the 4th quarter. UBS Group AG now owns 147,397 shares of the company’s stock worth $3,225,000 after purchasing an additional 70,811 shares during the last quarter. Kessler Investment Group LLC bought a new position in shares of Arqit Quantum during the 4th quarter worth about $1,047,000. Renaissance Technologies LLC bought a new position in shares of Arqit Quantum during the 1st quarter worth about $549,000. Finally, Raymond James Financial Inc. raised its position in shares of Arqit Quantum by 86.6% during the third quarter. Raymond James Financial Inc. now owns 84,713 shares of the company’s stock valued at $3,283,000 after buying an additional 39,316 shares during the last quarter. Institutional investors and hedge funds own 16.60% of the company’s stock.
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.
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