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

Arqit Quantum Inc. (NASDAQ:ARQQ) 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) 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.