Short Interest in Arqit Quantum Inc. (NASDAQ:ARQQ) Increases By 50.0%

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 447,400 shares, an increase of 50.0% from the December 15th total of 298,200 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily volume of 732,700 shares, the days-to-cover ratio is currently 0.6 days.

Arqit Quantum Trading Down 1.7 %

Shares of ARQQ traded down $0.48 during mid-day trading on Friday, reaching $27.80. The company’s stock had a trading volume of 1,653,988 shares, compared to its average volume of 1,334,224. Arqit Quantum has a 52 week low of $3.72 and a 52 week high of $52.79. The company’s fifty day moving average price is $23.72 and its two-hundred day moving average price is $12.99.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their target price on shares of Arqit Quantum from $27.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st.

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.