Patrick Willcocks Sells 2,009 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) General Counsel Patrick Willcocks sold 2,009 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $25.20, for a total transaction of $50,626.80. Following the transaction, the general counsel owned 9,462 shares in the company, valued at approximately $238,442.40. This trade represents a 17.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Patrick Willcocks also recently made the following trade(s):

• On Tuesday, June 30th, Patrick Willcocks sold 4,000 shares of Arqit Quantum stock. The shares were sold at an average price of $29.48, for a total transaction of $117,920.00.

Arqit Quantum Trading Down 10.3%

Shares of NASDAQ:ARQQ opened at $19.84 on Wednesday. Arqit Quantum Inc. has a 1 year low of $11.52 and a 1 year high of $62.00. The firm has a fifty day moving average price of $17.95 and a 200 day moving average price of $18.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARQQ. Royal Bank of Canada raised its position in shares of Arqit Quantum by 133.4% during the first quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock valued at $92,000 after buying an additional 4,008 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Arqit Quantum during the first quarter worth about $549,000. True Vision MN LLC bought a new position in Arqit Quantum during the first quarter valued at about $197,000. Defiance ETFs LLC acquired a new position in Arqit Quantum in the 4th quarter valued at approximately $30,248,000. Finally, Kestra Advisory Services LLC acquired a new position in Arqit Quantum in the 4th quarter valued at approximately $40,000. Institutional investors own 16.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings raised Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. Wall Street Zen raised Arqit Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.