Arqit Quantum (NASDAQ:ARQQ) CRO Sells $177,528.96 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) CRO Jennifer Bers sold 8,288 shares of Arqit Quantum 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 directly owned 6,712 shares in the company, valued at approximately $143,771.04. This trade represents a 55.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arqit Quantum Trading Down 1.4%

Arqit Quantum stock traded down $0.40 during trading hours on Wednesday, hitting $28.64. The stock had a trading volume of 1,652,265 shares, compared to its average volume of 524,919. The company has a 50-day moving average of $15.87 and a two-hundred day moving average of $18.54. Arqit Quantum Inc. has a fifty-two week low of $11.52 and a fifty-two week high of $62.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARQQ. Royal Bank of Canada boosted its holdings in Arqit Quantum by 133.4% during 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. Renaissance Technologies LLC bought a new position in shares of Arqit Quantum during the 1st quarter worth approximately $549,000. True Vision MN LLC bought a new position in shares of Arqit Quantum during the 1st quarter worth approximately $197,000. Defiance ETFs LLC acquired a new stake in Arqit Quantum in the 4th quarter valued at $30,248,000. Finally, Kestra Advisory Services LLC acquired a new stake in Arqit Quantum in the 4th quarter valued at $40,000. Institutional investors own 16.60% of the company’s stock.

Analysts Set New Price Targets

ARQQ has been the subject of several research reports. Wall Street Zen raised Arqit Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings raised shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

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.