Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) CEO Andrew Leaver sold 2,573 shares of the stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $16.40, for a total value of $42,197.20. Following the sale, the chief executive officer directly owned 53,966 shares of the company’s stock, valued at $885,042.40. The trade was a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Andrew Leaver also recently made the following trade(s):
- On Tuesday, October 6th, Andrew Leaver sold 2,398 shares of Arqit Quantum stock. The stock was sold at an average price of $24.19, for a total value of $58,007.62.
- On Monday, October 5th, Andrew Leaver sold 2,535 shares of Arqit Quantum stock. The stock was sold at an average price of $23.78, for a total value of $60,282.30.
- On Friday, October 2nd, Andrew Leaver sold 2,818 shares of Arqit Quantum stock. The stock was sold at an average price of $24.47, for a total value of $68,956.46.
Arqit Quantum Stock Performance
Shares of NASDAQ:ARQQ opened at $14.02 on Friday. The business has a fifty day moving average price of $21.08 and a two-hundred day moving average price of $18.61. Arqit Quantum Inc. has a 1 year low of $11.52 and a 1 year high of $49.33.
Wall Street Analysts Forecast Growth
ARQQ has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings lowered shares of Arqit Quantum from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. 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, Arqit Quantum has a consensus rating of “Hold”.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ARQQ. Kessler Investment Group LLC bought a new position in Arqit Quantum in the 3rd quarter worth approximately $3,333,000. Bank of New York Mellon Corp bought a new stake in Arqit Quantum during the 2nd quarter valued at $2,947,000. Heck Capital Advisors LLC bought a new stake in Arqit Quantum during the 2nd quarter valued at $234,000. Royal Bank of Canada raised its holdings in Arqit Quantum by 133.4% during the 1st quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock valued at $92,000 after acquiring an additional 4,008 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Arqit Quantum during the first quarter worth $549,000. 16.60% of the stock is owned by institutional investors.
Arqit Quantum Company Profile
Arqit Quantum Inc is a cybersecurity company that develops encryption technology designed to protect data and communications against current and future cyber threats, including potential attacks enabled by quantum computing. The company’s solutions are intended for governments, enterprises and other organizations that need to secure sensitive information across networks, devices and cloud environments.
Arqit’s principal offering is QuantumCloud, a cloud-based platform designed to enable the creation and management of secure encryption keys.
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