Arqit Quantum Inc. (NASDAQ:ARQQ) Short Interest Update

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 298,200 shares, a decrease of 28.2% from the November 30th total of 415,100 shares. Based on an average daily volume of 581,300 shares, the short-interest ratio is presently 0.5 days. Approximately 5.5% of the shares of the company are short sold.

Arqit Quantum Trading Down 2.6 %

Shares of NASDAQ:ARQQ traded down $1.14 during trading on Friday, hitting $42.69. 2,260,373 shares of the company’s stock traded hands, compared to its average volume of 202,358. Arqit Quantum has a 52 week low of $3.72 and a 52 week high of $52.79. The company has a 50-day moving average price of $16.99 and a 200-day moving average price of $10.86.

Analyst Ratings Changes

Separately, HC Wainwright upped their target price on Arqit Quantum from $22.00 to $27.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC bought a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned about 0.06% of Arqit Quantum at the end of the most recent reporting period. Institutional investors own 16.60% of the company’s stock.

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.