Arqit Quantum Inc. (NASDAQ:ARQQ) Short Interest Down 13.9% in January

Arqit Quantum Inc. (NASDAQ:ARQQ) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 385,300 shares, a drop of 13.9% from the December 31st total of 447,400 shares. Based on an average daily volume of 919,900 shares, the days-to-cover ratio is currently 0.4 days. Currently, 6.3% of the company’s stock are short sold.

Arqit Quantum Trading Down 3.8 %

NASDAQ:ARQQ traded down $0.77 during mid-day trading on Monday, reaching $19.73. 286,897 shares of the stock were exchanged, compared to its average volume of 1,014,411. Arqit Quantum has a 1 year low of $3.72 and a 1 year high of $52.79. The company has a 50 day simple moving average of $27.37 and a 200-day simple moving average of $14.35.

Analyst Ratings Changes

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

Institutional Trading of Arqit Quantum

An institutional investor recently bought a new position in Arqit Quantum stock. Wolverine Asset Management LLC purchased a new stake in Arqit Quantum Inc. (NASDAQ:ARQQ) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,270 shares of the company’s stock, valued at approximately $166,000. 16.60% of the stock is owned by hedge funds and other institutional investors.

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.