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

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Arqit Quantum stock. Veracity Capital LLC acquired a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,804 shares of the company’s stock, valued at approximately $420,000. Veracity Capital LLC owned 0.09% of Arqit Quantum as of its most recent filing with the Securities and Exchange Commission. 16.60% of the stock is currently owned by institutional investors and hedge funds.

Arqit Quantum Trading Down 4.5 %

Arqit Quantum stock traded down $0.97 during mid-day trading on Friday, hitting $20.50. The company’s stock had a trading volume of 568,071 shares, compared to its average volume of 1,002,238. The stock’s fifty day moving average price is $27.37 and its two-hundred day moving average price is $14.29. Arqit Quantum has a twelve month low of $3.72 and a twelve month high of $52.79.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their price objective on Arqit Quantum from $27.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st.

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.