Arqit Quantum Inc. (NASDAQ:ARQQ) Short Interest Update

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 298,200 shares, a decline of 28.2% from the November 30th total of 415,100 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily trading volume, of 581,300 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, HC Wainwright lifted their price target on shares of Arqit Quantum from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 SEC. 16.60% of the stock is owned by institutional investors.

Arqit Quantum Stock Down 2.6 %

Arqit Quantum stock traded down $1.14 during midday trading on Friday, hitting $42.69. 2,260,373 shares of the stock were exchanged, compared to its average volume of 202,358. The business’s 50-day moving average price is $16.99 and its 200-day moving average price is $10.86. Arqit Quantum has a 52-week low of $3.72 and a 52-week high of $52.79.

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.