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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of a significant growth in short interest during the month of 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. Currently, 8.6% of the company’s stock are short sold. Based on an average daily trading volume, of 956,100 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On Arqit Quantum

A number of hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Arqit Quantum in the fourth quarter worth approximately $30,000. Barclays PLC bought a new position in Arqit Quantum during the fourth quarter valued at approximately $39,000. Wells Fargo & Company MN purchased a new stake in Arqit Quantum in the fourth quarter worth approximately $134,000. Wolverine Asset Management LLC bought a new stake in Arqit Quantum in the 4th quarter worth approximately $166,000. Finally, BIT Capital GmbH purchased a new stake in Arqit Quantum during the 4th quarter valued at $207,000. Hedge funds and other institutional investors own 16.60% of the company’s stock.

Arqit Quantum Stock Down 8.2 %

Shares of ARQQ stock traded down $1.47 during mid-day trading on Friday, hitting $16.53. The company’s stock had a trading volume of 448,427 shares, compared to its average volume of 892,398. Arqit Quantum has a 52-week low of $3.72 and a 52-week high of $52.79. The business has a 50-day moving average price of $26.97 and a 200 day moving average price of $14.98.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price target on Arqit Quantum from $27.00 to $52.00 and gave the company a “buy” rating in a 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.