Insider Selling: Arqit Quantum (NASDAQ:ARQQ) CFO Sells $22,763.88 in Stock

Arqit Quantum Inc. (NASDAQ:ARQQ) CFO Nicholas Pointon sold 1,709 shares of Arqit Quantum stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $13.32, for a total transaction of $22,763.88. Following the sale, the chief financial officer owned 13,607 shares of the company’s stock, valued at approximately $181,245.24. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Arqit Quantum Price Performance

Shares of NASDAQ:ARQQ remained flat at $13.97 during trading on Friday. The stock had a trading volume of 188,327 shares, compared to its average volume of 189,941. The company has a 50-day simple moving average of $16.26 and a two-hundred day simple moving average of $27.38. Arqit Quantum Inc. has a fifty-two week low of $11.00 and a fifty-two week high of $62.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. National Bank of Canada FI purchased a new stake in Arqit Quantum in the 3rd quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new position in Arqit Quantum during the fourth quarter worth $40,000. Flagship Harbor Advisors LLC purchased a new position in Arqit Quantum during the fourth quarter worth $75,000. Jones Financial Companies Lllp raised its holdings in shares of Arqit Quantum by 333.4% in the third quarter. Jones Financial Companies Lllp now owns 2,206 shares of the company’s stock worth $80,000 after acquiring an additional 1,697 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Arqit Quantum in the fourth quarter worth $98,000. 16.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ARQQ shares. Weiss Ratings reissued a “sell (d)” rating on shares of Arqit Quantum in a report on Wednesday, January 21st. Wall Street Zen downgraded Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, HC Wainwright reissued a “buy” rating on shares of Arqit Quantum in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Arqit Quantum has an average rating of “Hold” and an average target price of $60.00.

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.