Arqit Quantum (NASDAQ:ARQQ) Stock: Insider Andrew Leaver Sells 2,573 Shares

Arqit Quantum Inc. (NASDAQ:ARQQ) CEO Andrew Leaver sold 2,573 shares of Arqit Quantum stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $16.40, for a total value of $42,197.20. Following the sale, the chief executive officer directly owned 53,966 shares in the company, valued at approximately $885,042.40. This trade represents a 4.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Andrew Leaver also recently made the following trade(s):

• On Tuesday, October 6th, Andrew Leaver sold 2,398 shares of Arqit Quantum stock. The stock was sold at an average price of $24.19, for a total value of $58,007.62.
• On Monday, October 5th, Andrew Leaver sold 2,535 shares of Arqit Quantum stock. The shares were sold at an average price of $23.78, for a total value of $60,282.30.
• On Friday, October 2nd, Andrew Leaver sold 2,818 shares of Arqit Quantum stock. The shares were sold at an average price of $24.47, for a total value of $68,956.46.

Arqit Quantum Stock Up 3.2%

Arqit Quantum stock traded up $0.49 during mid-day trading on Thursday, hitting $15.86. 325,035 shares of the company’s stock traded hands, compared to its average volume of 476,227. Arqit Quantum Inc. has a one year low of $11.52 and a one year high of $53.60. The firm has a 50 day moving average price of $21.37 and a 200 day moving average price of $18.61.

Institutional Trading of Arqit Quantum

Several institutional investors have recently modified their holdings of ARQQ. Kessler Investment Group LLC bought a new stake in Arqit Quantum in the third quarter worth about $3,333,000. Bank of New York Mellon Corp bought a new position in shares of Arqit Quantum during the 2nd quarter valued at about $2,947,000. Heck Capital Advisors LLC bought a new position in shares of Arqit Quantum during the 2nd quarter valued at about $234,000. Royal Bank of Canada boosted its position in shares of Arqit Quantum by 133.4% during the 1st quarter. Royal Bank of Canada now owns 7,012 shares of the company’s stock valued at $92,000 after purchasing an additional 4,008 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Arqit Quantum in the 1st quarter worth approximately $549,000. Institutional investors and hedge funds own 16.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Arqit Quantum from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arqit Quantum presently has a consensus rating of “Hold”.

Arqit Quantum Company Profile

Arqit Quantum Inc is a cybersecurity company that develops encryption technology designed to protect data and communications against current and future cyber threats, including potential attacks enabled by quantum computing. The company’s solutions are intended for governments, enterprises and other organizations that need to secure sensitive information across networks, devices and cloud environments.

Arqit’s principal offering is QuantumCloud, a cloud-based platform designed to enable the creation and management of secure encryption keys.