Arqit Quantum (NASDAQ:ARQQ) CRO Sells 533 Shares of Stock

Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) CRO Paul Feenan sold 533 shares of Arqit Quantum stock in a transaction on Monday, October 5th. The shares were sold at an average price of $23.78, for a total value of $12,674.74. Following the completion of the transaction, the executive owned 21,416 shares in the company, valued at $509,272.48. This represents a 2.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Paul Feenan also recently made the following trade(s):

  • On Friday, October 2nd, Paul Feenan sold 506 shares of Arqit Quantum stock. The shares were sold at an average price of $24.47, for a total transaction of $12,381.82.

Arqit Quantum Price Performance

NASDAQ ARQQ traded down $0.88 on Wednesday, hitting $22.55. The stock had a trading volume of 170,963 shares, compared to its average volume of 357,938. The business’s fifty day moving average price is $21.61 and its 200 day moving average price is $18.50. Arqit Quantum Inc. has a 52-week low of $11.52 and a 52-week high of $62.00.

Hedge Funds Weigh In On Arqit Quantum

Several institutional investors and hedge funds have recently bought and sold shares of ARQQ. Bank of New York Mellon Corp acquired a new position in shares of Arqit Quantum in the 2nd quarter worth approximately $2,947,000. Heck Capital Advisors LLC purchased a new stake in Arqit Quantum in the second quarter valued at approximately $234,000. Royal Bank of Canada lifted its stake in Arqit Quantum by 133.4% during the first quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock worth $92,000 after purchasing an additional 4,008 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Arqit Quantum during the first quarter worth $549,000. Finally, True Vision MN LLC acquired a new stake in shares of Arqit Quantum in the first quarter valued at $197,000. 16.60% of the stock is currently owned by institutional investors and hedge funds.

More Arqit Quantum News

Here are the key news stories impacting Arqit Quantum this week:

  • Positive Sentiment: Several institutions recently initiated or expanded positions in Arqit Quantum, including Bank of New York Mellon, Renaissance Technologies, True Vision MN, Heck Capital Advisors and Royal Bank of Canada. Institutional ownership stands at approximately 16.6%, potentially providing some long-term investor support. Arqit Quantum ownership information
  • Neutral Sentiment: Analyst sentiment remains mixed. Arqit Quantum has received one Buy and one Sell rating, producing an overall “Hold” consensus and a reported average price target of $60. While the target implies substantial upside, the limited analyst coverage and conflicting views reduce the signal’s reliability.
  • Negative Sentiment: Six insiders—including CEO Andrew Leaver, CRO Paul Feenan, COO Ben Wilder, General Counsel Patrick Willcocks, Director Garth Ritchie and insider Nicholas William Nilan—sold a combined 4,717 shares worth approximately $115,425 at an average price of $24.47. The broad participation from senior leadership and a director may weigh on sentiment and help explain recent weakness in ARQQ. Arqit Quantum insider selling report
  • Negative Sentiment: Nilan’s sale reduced his position by approximately 51.5%, while the CEO reduced his holdings by 4.55% and the COO and general counsel each cut their positions by roughly 5%. Although the filings do not disclose the reasons for the transactions and the dollar amounts are relatively modest, the pattern may be interpreted as a near-term confidence concern rather than evidence of improving insider conviction.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARQQ. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Arqit Quantum in a report on Friday, August 21st. Wall Street Zen raised shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.00.

Get Our Latest Stock Report on ARQQ

Arqit Quantum Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Arqit Quantum (NASDAQ:ARQQ)

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