Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 121,200 shares, a decline of 92.9% from the September 15th total of 1,700,000 shares. Based on an average daily volume of 57,900 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.8% of the shares of the company are sold short.
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 Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned approximately 0.06% of Arqit Quantum as of its most recent filing with the SEC. Hedge funds and other institutional investors own 16.60% of the company’s stock.
Wall Street Analyst Weigh In
Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.00 price objective on shares of Arqit Quantum in a research report on Thursday, July 11th.
Arqit Quantum Price Performance
Shares of NASDAQ:ARQQ opened at $3.83 on Friday. Arqit Quantum has a 1-year low of $3.72 and a 1-year high of $23.00. The business’s 50 day moving average is $1.32 and its 200-day moving average is $0.74.
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.
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