Arqit Quantum Target of Unusually High Options Trading (NASDAQ:ARQQ)

Arqit Quantum Inc. (NASDAQ:ARQQ) saw unusually large options trading on Wednesday. Investors purchased 2,470 call options on the company. This represents an increase of approximately 178% compared to the average volume of 889 call options.

Analysts Set New Price Targets

Separately, 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. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.00.

Insider Activity

In other news, CEO Andrew Leaver sold 7,595 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.51, for a total transaction of $102,608.45. Following the sale, the chief executive officer owned 45,751 shares in the company, valued at $618,096.01. This represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 14,356 shares of company stock worth $193,732. Corporate insiders own 54.60% of the company’s stock.

Institutional Trading of Arqit Quantum

Several institutional investors have recently added to or reduced their stakes in ARQQ. National Bank of Canada FI bought a new position in Arqit Quantum during the third quarter worth about $27,000. Envestnet Asset Management Inc. increased its position in Arqit Quantum by 11.1% during the third quarter. Envestnet Asset Management Inc. now owns 13,002 shares of the company’s stock worth $504,000 after acquiring an additional 1,299 shares during the period. Jones Financial Companies Lllp increased its position in Arqit Quantum by 333.4% during the third quarter. Jones Financial Companies Lllp now owns 2,206 shares of the company’s stock worth $80,000 after acquiring an additional 1,697 shares during the period. Kestra Advisory Services LLC bought a new position in Arqit Quantum during the fourth quarter worth about $40,000. Finally, MASO CAPITAL PARTNERS Ltd bought a new position in Arqit Quantum during the third quarter worth about $110,000. 16.60% of the stock is currently owned by institutional investors.

Arqit Quantum Stock Up 9.1%

Arqit Quantum stock traded up $1.81 during trading hours on Wednesday, hitting $21.75. The company had a trading volume of 1,428,313 shares, compared to its average volume of 425,212. The firm has a 50-day moving average of $14.71 and a 200 day moving average of $18.67. Arqit Quantum has a one year low of $11.52 and a one year high of $62.00.

Arqit Quantum Company Profile

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.