Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 415,100 shares, a growth of 86.7% from the November 15th total of 222,300 shares. Approximately 10.0% of the shares of the stock are sold short. Based on an average trading volume of 362,500 shares, the short-interest ratio is presently 1.1 days.
Hedge Funds Weigh In On Arqit Quantum
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 16.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright lifted their target price on Arqit Quantum from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, December 6th.
Arqit Quantum Stock Down 2.1 %
Shares of NASDAQ ARQQ traded down $0.51 during midday trading on Friday, reaching $23.70. The stock had a trading volume of 887,737 shares, compared to its average volume of 146,965. The company’s 50 day moving average price is $11.34 and its 200 day moving average price is $9.24. Arqit Quantum has a twelve month low of $3.72 and a twelve month high of $32.50.
About Arqit Quantum
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.
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