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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 131,000 shares, a growth of 8.1% from the September 30th total of 121,200 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 84,300 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC acquired a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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. 16.60% of the stock is owned by institutional investors and hedge funds.

Arqit Quantum Trading Down 12.5 %

Shares of ARQQ stock opened at $5.97 on Thursday. Arqit Quantum has a fifty-two week low of $3.72 and a fifty-two week high of $23.00. The stock has a 50 day moving average price of $6.44 and a two-hundred day moving average price of $8.46.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Arqit Quantum in a research note on Thursday, July 11th.

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.