Short Interest in Arqit Quantum Inc. (NASDAQ:ARQQ) Increases By 86.7%

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 415,100 shares, an increase of 86.7% from the November 15th total of 222,300 shares. Based on an average daily volume of 362,500 shares, the short-interest ratio is presently 1.1 days. Currently, 10.0% of the shares of the company are sold short.

Arqit Quantum Stock Down 2.1 %

NASDAQ ARQQ traded down $0.51 during trading hours on Friday, hitting $23.70. The company had a trading volume of 887,737 shares, compared to its average volume of 146,965. Arqit Quantum has a 52 week low of $3.72 and a 52 week high of $32.50. The firm has a 50 day simple moving average of $11.34 and a 200 day simple moving average of $9.24.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC bought a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. 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.