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

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

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

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

Arqit Quantum Stock Down 10.4 %

ARQQ traded down $0.58 during trading on Friday, reaching $5.02. 133,877 shares of the company’s stock were exchanged, compared to its average volume of 53,205. Arqit Quantum has a fifty-two week low of $3.72 and a fifty-two week high of $23.00. The business has a 50 day moving average price of $0.60 and a 200 day moving average price of $0.51.

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.