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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,700,000 shares, a growth of 18.1% from the August 31st total of 1,440,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 841,600 shares, the short-interest ratio is presently 2.0 days.

Arqit Quantum Price Performance

Shares of ARQQ traded up $0.50 during trading on Monday, reaching $5.52. 57,412 shares of the company traded hands, compared to its average volume of 53,258. Arqit Quantum has a twelve month low of $3.72 and a twelve month high of $23.00. The stock has a 50-day simple moving average of $0.60 and a 200-day simple moving average of $0.51.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $2.00 price target on shares of Arqit Quantum in a report on Thursday, July 11th.

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.