Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) General Counsel Patrick Willcocks sold 557 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $24.47, for a total transaction of $13,629.79. Following the sale, the general counsel owned 11,204 shares in the company, valued at approximately $274,161.88. This represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Arqit Quantum Price Performance
Shares of Arqit Quantum stock traded down $0.25 on Tuesday, hitting $23.43. The company’s stock had a trading volume of 156,841 shares, compared to its average volume of 363,062. Arqit Quantum Inc. has a 1 year low of $11.52 and a 1 year high of $62.00. The firm has a fifty day moving average price of $21.47 and a 200-day moving average price of $18.43.
Analyst Ratings Changes
ARQQ has been the subject of a number of recent research reports. Wall Street Zen raised shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Arqit Quantum in a research note on Friday, August 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arqit Quantum currently has a consensus rating of “Hold” and a consensus target price of $60.00.
Institutional Investors Weigh In On Arqit Quantum
Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Arqit Quantum during the second quarter worth about $2,947,000. Renaissance Technologies LLC acquired a new position in shares of Arqit Quantum in the 1st quarter valued at $549,000. True Vision MN LLC purchased a new stake in shares of Arqit Quantum in the first quarter valued at about $197,000. Heck Capital Advisors LLC acquired a new stake in Arqit Quantum during the 2nd quarter worth approximately $234,000. Finally, Royal Bank of Canada grew its position in Arqit Quantum by 133.4% in the 1st quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock valued at $92,000 after buying an additional 4,008 shares during the last quarter. 16.60% of the stock is currently owned by institutional investors and hedge funds.
Arqit Quantum Company Profile
Arqit Quantum Inc is a cybersecurity company that develops encryption technology designed to protect data and communications against current and future cyber threats, including potential attacks enabled by quantum computing. The company’s solutions are intended for governments, enterprises and other organizations that need to secure sensitive information across networks, devices and cloud environments.
Arqit’s principal offering is QuantumCloud, a cloud-based platform designed to enable the creation and management of secure encryption keys.
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