Arqit Quantum Inc. (NASDAQ:ARQQ) Short Interest Up 8.1% in October

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 131,000 shares, a growth of 8.1% from the September 30th total of 121,200 shares. Based on an average daily trading volume, of 84,300 shares, the days-to-cover ratio is presently 1.6 days. Approximately 3.4% of the company’s stock are short sold.

Arqit Quantum Trading Down 9.4 %

Shares of NASDAQ:ARQQ opened at $5.41 on Friday. Arqit Quantum has a 12-month low of $3.72 and a 12-month high of $23.00. The stock has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $8.46.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Arqit Quantum in a research report on Thursday, July 11th.

Hedge Funds Weigh In On Arqit Quantum

A hedge fund recently bought a new stake in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in Arqit Quantum Inc. (NASDAQ:ARQQ) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the company’s stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum as of its most recent SEC filing. 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.