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

Arqit Quantum Inc. (NASDAQ:ARQQ) experienced a notable decline in short interest during January. By January 15th, the total short interest had fallen to 385,300 shares, which reflects a drop of 13.9% compared to 447,400 shares reported at the end of December. This change indicates that approximately 6.3% of the company's total shares are currently sold short. Given an average trading volume of 919,900 shares, the short-interest ratio stands at 0.4 days, suggesting that it would take less than half a day to cover these short positions.

Recent Price Target Adjustments

In separate news, HC Wainwright has increased its price target for Arqit Quantum from $27.00 to $52.00, issuing a "buy" rating in a research note published on December 31st.

Current Market Performance

On a recent trading day, Arqit Quantum's stock price decreased by 4.5%, trading at $20.50. The trading volume was approximately 568,071 shares, significantly lower than the average of 1,002,238 shares. Over the past year, the stock has hit a low of $3.72 and reached a high of $52.79. The fifty-day moving average is currently $27.37, and the 200-day moving average is $14.29.

Institutional Investment Activity

Additionally, there has been some movement in institutional investments. For instance, Veracity Capital LLC made a recent purchase of Arqit Quantum stock, acquiring 10,804 shares valued around $420,000. As per their latest Form 13F filing with the Securities and Exchange Commission, Veracity Capital LLC holds approximately 0.09% of the company. Currently, about 16.60% of Arqit Quantum's stock is owned by hedge funds and other institutional investors.

About Arqit Quantum Inc.

Arqit Quantum Inc. focuses on providing advanced cybersecurity solutions leveraging both satellite and terrestrial platforms in the United Kingdom. Its flagship offering, QuantumCloud, delivers a Platform as a Service that generates unbreakable software encryption keys. The company also offers maintenance, professional services, and support to its clientele. Arqit Quantum is headquartered in London, UK.

Arqit, Quantum, Stocks