Arqit Quantum Inc. (NASDAQ:ARQQ) Sees Significant Increase in Short Interest

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,440,000 shares, a growth of 6.7% from the August 15th total of 1,350,000 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 847,100 shares, the short-interest ratio is currently 1.7 days.

Arqit Quantum Trading Down 2.0 %

Arqit Quantum stock opened at $0.29 on Tuesday. The company has a 50 day moving average of $0.34 and a 200-day moving average of $0.44. Arqit Quantum has a twelve month low of $0.27 and a twelve month high of $0.92.

Analysts Set New Price Targets

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

Institutional Trading of Arqit Quantum

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

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.