Short Interest in Arqit Quantum Inc. (NASDAQ:ARQQ) Rises By 18.1%

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,700,000 shares, a growth of 18.1% from the August 31st total of 1,440,000 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average trading volume of 841,600 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum at the end of the most recent quarter. Institutional investors own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $2.00 target price on shares of Arqit Quantum in a research note on Thursday, July 11th.

Arqit Quantum Trading Up 10.0 %

Shares of ARQQ traded up $0.50 during mid-day trading on Monday, reaching $5.52. The company’s stock had a trading volume of 57,412 shares, compared to its average volume of 53,258. Arqit Quantum has a 12-month low of $3.72 and a 12-month high of $23.00. The company’s 50 day moving average is $0.60 and its 200 day moving average is $0.51.

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.