Short Interest in Arqit Quantum Inc. (NASDAQ:ARQQ) Increases By 47.7%

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 222,300 shares, an increase of 47.7% from the October 31st total of 150,500 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average daily volume of 233,300 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 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. 16.60% of the stock is currently owned by hedge funds and other institutional investors.

Arqit Quantum Stock Performance

ARQQ traded up $2.08 during midday trading on Friday, reaching $19.98. The company’s stock had a trading volume of 453,274 shares, compared to its average volume of 105,020. The company has a fifty day simple moving average of $7.55 and a 200 day simple moving average of $8.27. Arqit Quantum has a twelve month low of $3.72 and a twelve month high of $23.00.

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.