Short Interest in Arqit Quantum Inc. (NASDAQ:ARQQ) Rises By 8.1%

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 131,000 shares, an increase of 8.1% from the September 30th total of 121,200 shares. Based on an average trading volume of 84,300 shares, the short-interest ratio is presently 1.6 days. Approximately 3.4% of the company’s shares are sold short.

Arqit Quantum Stock Performance

Shares of ARQQ opened at $5.97 on Thursday. The company has a 50-day simple moving average of $6.44 and a two-hundred day simple moving average of $8.46. Arqit Quantum has a one year low of $3.72 and a one year high of $23.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC acquired a new position in Arqit Quantum Inc. (NASDAQ:ARQQ) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned approximately 0.06% of Arqit Quantum at the end of the most recent quarter. 16.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Arqit Quantum in a report on Thursday, July 11th.

Arqit Quantum Company Profile

Arqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud, a Platform as a Service that creates unbreakable software encryption keys. The company also provides maintenance and support, and professional services. Arqit Quantum Inc is based in London, the United Kingdom.