D’ovidio Manfredi Lefebvre Sells 22,022 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 22,022 shares of Arqit Quantum stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $30.07, for a total transaction of $662,201.54. Following the sale, the director owned 4,374,870 shares in the company, valued at $131,552,340.90. This represents a 0.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

D’ovidio Manfredi Lefebvre also recently made the following trade(s):

• On Wednesday, July 1st, D’ovidio Manfredi Lefebvre sold 32,422 shares of Arqit Quantum stock. The shares were sold at an average price of $30.24, for a total transaction of $980,441.28.

Arqit Quantum Stock Performance

Shares of ARQQ stock opened at $23.51 on Friday. Arqit Quantum Inc. has a 52-week low of $11.52 and a 52-week high of $62.00. The firm has a fifty day moving average of $17.69 and a 200-day moving average of $18.45.

Analyst Ratings Changes

A number of analysts recently weighed in on ARQQ shares. Wall Street Zen raised shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a research note 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 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 company has a consensus rating of “Hold” and an average target price of $60.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARQQ. Defiance ETFs LLC bought a new position in shares of Arqit Quantum during the fourth quarter valued at $30,248,000. UBS Group AG grew its holdings in shares of Arqit Quantum by 92.5% in the 4th quarter. UBS Group AG now owns 147,397 shares of the company’s stock worth $3,225,000 after purchasing an additional 70,811 shares during the last quarter. Kessler Investment Group LLC bought a new stake in shares of Arqit Quantum in the 4th quarter worth about $1,047,000. Renaissance Technologies LLC bought a new stake in shares of Arqit Quantum in the 1st quarter worth about $549,000. Finally, Raymond James Financial Inc. increased its position in shares of Arqit Quantum by 86.6% during the 3rd quarter. Raymond James Financial Inc. now owns 84,713 shares of the company’s stock worth $3,283,000 after purchasing an additional 39,316 shares in the last quarter. 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.