Short Interest in Arqit Quantum Inc. (NASDAQ:ARQQ) Rises By 50.0%

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 447,400 shares, an increase of 50.0% from the December 15th total of 298,200 shares. Approximately 8.2% of the company’s shares are sold short. Based on an average daily trading volume, of 732,700 shares, the days-to-cover ratio is presently 0.6 days.

Arqit Quantum Trading Up 39.5 %

NASDAQ:ARQQ traded up $8.14 during midday trading on Thursday, reaching $28.73. The company had a trading volume of 2,442,973 shares, compared to its average volume of 1,018,782. The stock’s fifty day simple moving average is $23.30 and its 200-day simple moving average is $12.89. Arqit Quantum has a 12-month low of $3.72 and a 12-month high of $52.79.

Analysts Set New Price Targets

Separately, HC Wainwright increased their target price on shares of 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.