Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) CEO Andrew Leaver sold 2,818 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $24.47, for a total value of $68,956.46. Following the completion of the transaction, the chief executive officer owned 59,082 shares of the company’s stock, valued at $1,445,736.54. This trade represents a 4.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Arqit Quantum Price Performance
NASDAQ:ARQQ traded down $0.25 during midday trading 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 fifty-two week low of $11.52 and a fifty-two week high of $62.00. The firm’s 50 day moving average is $21.47 and its 200-day moving average is $18.43.
Hedge Funds Weigh In On Arqit Quantum
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Arqit Quantum in the 2nd quarter valued at $2,947,000. Renaissance Technologies LLC acquired a new stake in Arqit Quantum in the 1st quarter valued at about $549,000. True Vision MN LLC purchased a new position in Arqit Quantum in the 1st quarter worth approximately $197,000. Heck Capital Advisors LLC acquired a new position in shares of Arqit Quantum during the 2nd quarter worth approximately $234,000. Finally, Royal Bank of Canada grew its position in shares of Arqit Quantum by 133.4% in the first quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock valued at $92,000 after purchasing an additional 4,008 shares in the last quarter. Hedge funds and other institutional investors own 16.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on ARQQ
About Arqit Quantum
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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