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

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. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 841,600 shares, the short-interest ratio is presently 2.0 days.

Arqit Quantum Stock Performance

Shares of Arqit Quantum stock traded down $0.58 during trading hours on Friday, hitting $5.02. The company’s stock had a trading volume of 133,877 shares, compared to its average volume of 53,205. Arqit Quantum has a twelve month low of $3.72 and a twelve month high of $23.00. The firm has a fifty day moving average of $0.51 and a 200-day moving average of $0.48.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.00 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.