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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 121,200 shares, a drop of 92.9% from the September 15th total of 1,700,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 57,900 shares, the days-to-cover ratio is presently 2.1 days.

Arqit Quantum Trading Up 8.8 %

Arqit Quantum stock traded up $0.34 on Friday, hitting $4.19. The company’s stock had a trading volume of 50,564 shares, compared to its average volume of 54,620. The company has a fifty day moving average price of $1.32 and a 200-day moving average price of $0.74. Arqit Quantum has a one year low of $3.72 and a one year high of $23.00.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $2.00 price target on shares of Arqit Quantum in a report on Thursday, July 11th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 reporting period. 16.60% of the stock is owned by institutional investors.

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.