Stock Traders Purchase Large Volume of Call Options on Arqit Quantum (NASDAQ:ARQQ)

Arqit Quantum Inc. (NASDAQ:ARQQ) saw unusually large options trading on Wednesday. Investors acquired 3,305 call options on the stock. This is an increase of 587% compared to the typical daily volume of 481 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Arqit Quantum in a research report on Wednesday, January 21st. Wall Street Zen downgraded Arqit Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Arqit Quantum in a research report on Thursday, December 18th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.00.

Arqit Quantum Price Performance

Shares of NASDAQ:ARQQ traded up $2.01 during trading on Wednesday, reaching $15.98. 753,504 shares of the company’s stock traded hands, compared to its average volume of 245,868. Arqit Quantum has a fifty-two week low of $11.52 and a fifty-two week high of $62.00. The company has a 50-day simple moving average of $15.04 and a 200-day simple moving average of $25.96.

Insiders Place Their Bets

In other Arqit Quantum news, CEO Andrew Leaver sold 7,595 shares of the stock in a transaction dated 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 directly owned 45,751 shares of the company’s stock, valued at approximately $618,096.01. This trade represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 13,921 shares of company stock worth $186,828. 54.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arqit Quantum

Institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC grew its position in shares of Arqit Quantum by 43.4% during the 3rd quarter. Penserra Capital Management LLC now owns 1,021,248 shares of the company’s stock valued at $39,573,000 after acquiring an additional 308,942 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arqit Quantum by 82.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,473 shares of the company’s stock valued at $561,000 after acquiring an additional 6,537 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Arqit Quantum during the 2nd quarter valued at about $386,000. Cresset Asset Management LLC acquired a new stake in shares of Arqit Quantum during the 3rd quarter valued at about $284,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Arqit Quantum during the 2nd quarter valued at about $268,000. 16.60% of the stock is currently owned by institutional investors and hedge funds.

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.