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

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 539,000 shares, a growth of 39.9% from the January 15th total of 385,300 shares. Based on an average trading volume of 956,100 shares, the short-interest ratio is presently 0.6 days. Currently, 8.6% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, HC Wainwright increased their target price on Arqit Quantum from $27.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Arqit Quantum in the 4th quarter worth $30,000. Barclays PLC purchased a new stake in Arqit Quantum in the fourth quarter worth about $39,000. Biltmore Family Office LLC grew its stake in shares of Arqit Quantum by 57.2% during the 4th quarter. Biltmore Family Office LLC now owns 7,202 shares of the company’s stock valued at $280,000 after acquiring an additional 2,620 shares during the period. Wells Fargo & Company MN purchased a new stake in Arqit Quantum in the 4th quarter worth approximately $134,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of Arqit Quantum during the 4th quarter valued at $166,000. Institutional investors own 16.60% of the company’s stock.

Arqit Quantum Stock Performance

ARQQ opened at $16.53 on Friday. The company’s 50-day simple moving average is $26.97 and its two-hundred day simple moving average is $14.94. Arqit Quantum has a 52-week low of $3.72 and a 52-week high of $52.79.

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.