Arqit Quantum (NASDAQ:ARQQ - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday.
Separately, Weiss Ratings upgraded shares of Arqit Quantum from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.00.
View Our Latest Stock Report on ARQQ
Arqit Quantum Price Performance
ARQQ stock opened at $22.90 on Friday. The firm has a fifty day moving average price of $19.65 and a 200 day moving average price of $17.34. Arqit Quantum has a fifty-two week low of $11.52 and a fifty-two week high of $62.00.
Insider Buying and Selling
In other news, General Counsel Patrick Willcocks sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $29.48, for a total transaction of $117,920.00. Following the transaction, the general counsel owned 7,916 shares of the company's stock, valued at approximately $233,363.68. The trade was a 33.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Leaver sold 9,893 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $25.20, for a total value of $249,303.60. Following the completion of the sale, the chief executive officer owned 51,483 shares of the company's stock, valued at approximately $1,297,371.60. This represents a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,073 shares of company stock worth $2,249,085 in the last 90 days. Company insiders own 54.60% of the company's stock.
Institutional Investors Weigh In On Arqit Quantum
Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI bought a new position in Arqit Quantum during the 3rd quarter valued at about $27,000. Kestra Advisory Services LLC bought a new stake in Arqit Quantum in the fourth quarter worth about $40,000. Quantbot Technologies LP bought a new stake in Arqit Quantum in the second quarter worth about $122,000. Flagship Harbor Advisors LLC purchased a new position in shares of Arqit Quantum during the fourth quarter valued at approximately $75,000. Finally, Leonteq Securities AG purchased a new position in shares of Arqit Quantum during the fourth quarter valued at approximately $98,000. Institutional investors own 16.60% of the company's stock.
About Arqit Quantum
(
Get Free Report)
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.
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