Arqit Quantum (NASDAQ:ARQQ) CRO Jennifer Bers Sells 8,288 Shares of Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) CRO Jennifer Bers sold 8,288 shares of Arqit Quantum stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.42, for a total transaction of $177,528.96. Following the completion of the sale, the executive directly owned 6,712 shares in the company, valued at $143,771.04. This trade represents a 55.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Arqit Quantum Trading Down 1.4%

Arqit Quantum stock opened at $28.64 on Thursday. The business’s 50 day simple moving average is $16.18 and its 200 day simple moving average is $18.52. Arqit Quantum Inc. has a 12 month low of $11.52 and a 12 month high of $62.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in Arqit Quantum in the 3rd quarter valued at approximately $27,000. Envestnet Asset Management Inc. boosted its holdings in shares of Arqit Quantum by 11.1% in 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. Kestra Advisory Services LLC bought a new position in shares of Arqit Quantum in the fourth quarter worth $40,000. MASO CAPITAL PARTNERS Ltd purchased a new position in shares of Arqit Quantum in the third quarter valued at $110,000. Finally, Legal & General Group Plc grew its position in shares of Arqit Quantum by 4.4% in the third quarter. Legal & General Group Plc now owns 75,771 shares of the company’s stock valued at $2,936,000 after purchasing an additional 3,205 shares in the last quarter. 16.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen raised Arqit Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings raised Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.00.

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.