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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,440,000 shares, a growth of 6.7% from the August 15th total of 1,350,000 shares. Based on an average trading volume of 847,100 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $2.00 target price on shares of Arqit Quantum in a 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 stake in Arqit Quantum Inc. (NASDAQ:ARQQ) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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. Hedge funds and other institutional investors own 16.60% of the company’s stock.

Arqit Quantum Stock Down 2.0 %

Shares of Arqit Quantum stock opened at $0.29 on Tuesday. The business has a fifty day simple moving average of $0.34 and a two-hundred day simple moving average of $0.44. Arqit Quantum has a 1 year low of $0.27 and a 1 year high of $0.92.

About Arqit Quantum

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.