Renaissance Technologies LLC Acquires New Position in Arqit Quantum Inc. $ARQQ

Key Points

• Renaissance Technologies initiated a position in Arqit Quantum during the first quarter, purchasing 41,400 shares worth approximately $549,000, or about 0.27% of the company.
• Institutional investors own 16.60% of Arqit Quantum, while insiders own 54.60%; company insiders sold 79,073 shares valued at approximately $2.25 million over the past three months.
• ARQQ opened at $24.35, above its 50-day and 200-day moving averages. Analysts have a consensus “Hold” rating and a $60.00 target price, despite mixed Buy and Sell recommendations.

Renaissance Technologies LLC bought a new position in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 41,400 shares of the company's stock, valued at approximately $549,000. Renaissance Technologies LLC owned approximately 0.27% of Arqit Quantum as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. National Bank of Canada FI purchased a new position in shares of Arqit Quantum in the third quarter worth $27,000. Kestra Advisory Services LLC acquired a new stake in shares of Arqit Quantum during the fourth quarter worth $40,000. Leonteq Securities AG purchased a new stake in shares of Arqit Quantum during the fourth quarter valued at $98,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Arqit Quantum during the fourth quarter valued at $110,000. Finally, Quantbot Technologies LP acquired a new position in shares of Arqit Quantum in the 2nd quarter valued at $122,000. Hedge funds and other institutional investors own 16.60% of the company's stock.

Arqit Quantum Price Performance

Shares of Arqit Quantum stock opened at $24.35 on Tuesday. The firm has a fifty day moving average price of $20.77 and a 200 day moving average price of $17.25. Arqit Quantum Inc. has a 1 year low of $11.52 and a 1 year high of $62.00.

Analysts Set New Price Targets

A number of brokerages have commented on ARQQ. Weiss Ratings raised Arqit Quantum from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Arqit Quantum from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Arqit Quantum presently has an average rating of "Hold" and a consensus target price of $60.00.

Insider Buying and Selling at Arqit Quantum

In other Arqit Quantum news, CEO Andrew Leaver sold 9,893 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $25.20, for a total transaction of $249,303.60. Following the sale, the chief executive officer directly owned 51,483 shares of the company's stock, valued at approximately $1,297,371.60. This trade represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jennifer Bers sold 8,288 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.42, for a total value of $177,528.96. Following the sale, the executive directly owned 6,712 shares in the company, valued at $143,771.04. This represents a 55.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,073 shares of company stock valued at $2,249,085 in the last three months. Company insiders own 54.60% of the company's stock.

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.

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