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

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a significant increase in short interest in 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. Based on an average daily trading volume, of 732,700 shares, the days-to-cover ratio is currently 0.6 days. Currently, 8.2% of the company’s shares are short sold.

Arqit Quantum Stock Down 1.7 %

Shares of NASDAQ ARQQ traded down $0.48 during mid-day trading on Friday, hitting $27.80. The stock had a trading volume of 1,653,988 shares, compared to its average volume of 1,334,224. Arqit Quantum has a 1 year low of $3.72 and a 1 year high of $52.79. The business has a 50 day moving average price of $23.72 and a two-hundred day moving average price of $12.99.

Analysts Set New Price Targets

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

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.