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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of some unusual options trading on Wednesday. Stock investors purchased 2,470 call options on the stock. This represents an increase of 178% compared to the typical volume of 889 call options.

Insider Activity

In related news, CEO Andrew Leaver sold 7,595 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.51, for a total value of $102,608.45. Following the completion of the sale, the chief executive officer directly owned 45,751 shares in the company, valued at approximately $618,096.01. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 14,356 shares of company stock valued at $193,732 in the last three months. Insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Arqit Quantum

Hedge funds and other institutional investors have recently modified their holdings of the business. Kessler Investment Group LLC bought a new position in shares of Arqit Quantum in the fourth quarter worth about $1,047,000. UBS Group AG lifted its holdings in shares of Arqit Quantum by 92.5% in the fourth quarter. UBS Group AG now owns 147,397 shares of the company’s stock worth $3,225,000 after acquiring an additional 70,811 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Arqit Quantum in the fourth quarter worth about $110,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Arqit Quantum in the fourth quarter worth about $252,000. Finally, MASO CAPITAL PARTNERS Ltd bought a new stake in shares of Arqit Quantum during the third quarter worth $110,000. Institutional investors own 16.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Arqit Quantum has an average rating of “Hold” and an average target price of $60.00.

Arqit Quantum Trading Up 9.1%

Shares of ARQQ traded up $1.81 during midday trading on Wednesday, hitting $21.75. The company’s stock had a trading volume of 1,428,313 shares, compared to its average volume of 425,212. Arqit Quantum has a one year low of $11.52 and a one year high of $62.00. The company’s fifty day simple moving average is $14.71 and its two-hundred day simple moving average is $18.67.

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.