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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totalling 385,300 shares, a decline of 13.9% from the December 31st total of 447,400 shares. Based on an average daily volume of 919,900 shares, the short-interest ratio is presently 0.4 days. Currently, 6.3% of the shares of the stock are sold short.

Institutional Trading of Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Wolverine Asset Management LLC bought a new stake in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,270 shares of the company’s stock, valued at approximately $166,000. Institutional investors own 16.60% of the company’s stock.

Arqit Quantum Stock Performance

Shares of ARQQ traded down $0.61 during mid-day trading on Monday, hitting $19.89. 313,248 shares of the company’s stock were exchanged, compared to its average volume of 1,015,524. Arqit Quantum has a twelve month low of $3.72 and a twelve month high of $52.79. The firm has a fifty day moving average of $27.37 and a two-hundred day moving average of $14.35.

Wall Street Analyst Weigh In

Separately, HC Wainwright lifted their price target on shares of Arqit Quantum from $27.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st.

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.