Arqit Quantum (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre Sells 32,422 Shares

Arqit Quantum Inc. (NASDAQ:ARQQ) Director D’ovidio Manfredi Lefebvre sold 32,422 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $30.24, for a total value of $980,441.28. Following the completion of the transaction, the director owned 4,342,448 shares in the company, valued at approximately $131,315,627.52. The trade was a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

D’ovidio Manfredi Lefebvre also recently made the following trade(s):

• On Tuesday, June 30th, D’ovidio Manfredi Lefebvre sold 22,022 shares of Arqit Quantum stock. The stock was sold at an average price of $30.07, for a total value of $662,201.54.

Arqit Quantum Stock Performance

Shares of ARQQ opened at $23.51 on Friday. The stock’s fifty day moving average price is $17.54 and its two-hundred day moving average price is $18.41. Arqit Quantum Inc. has a 1 year low of $11.52 and a 1 year high of $62.00.

Analyst Upgrades and Downgrades

Several research firms have commented on ARQQ. Wall Street Zen raised shares of Arqit Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Weiss Ratings upgraded shares of Arqit Quantum from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.00.

Institutional Investors Weigh In On Arqit Quantum

Several institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI purchased a new position in shares of Arqit Quantum in the third quarter valued at $27,000. Kestra Advisory Services LLC purchased a new stake in Arqit Quantum during the 4th quarter worth about $40,000. MASO CAPITAL PARTNERS Ltd purchased a new stake in Arqit Quantum during the 3rd quarter worth about $110,000. Quantbot Technologies LP bought a new position in Arqit Quantum in the 2nd quarter worth about $122,000. Finally, Flagship Harbor Advisors LLC bought a new position in Arqit Quantum in the 4th quarter worth about $75,000. Hedge funds and other institutional investors own 16.60% of the company’s stock.

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.