Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 539,000 shares, an increase of 39.9% from the January 15th total of 385,300 shares. Based on an average daily volume of 956,100 shares, the days-to-cover ratio is presently 0.6 days. Currently, 8.6% of the shares of the company are sold short.
Arqit Quantum Trading Down 0.7 %
Shares of Arqit Quantum stock traded down $0.12 on Tuesday, reaching $16.41. The stock had a trading volume of 213,433 shares, compared to its average volume of 817,556. Arqit Quantum has a 1 year low of $3.72 and a 1 year high of $52.79. The business's 50 day moving average is $26.83 and its two-hundred day moving average is $15.08.
Institutional Investors Weigh In On Arqit Quantum
A number of institutional investors and hedge funds have recently modified their holdings of ARQQ. Veracity Capital LLC purchased a new stake in shares of Arqit Quantum in the fourth quarter worth about $420,000. Wolverine Asset Management LLC purchased a new stake in shares of Arqit Quantum in the fourth quarter worth about $166,000. SBI Securities Co. Ltd. purchased a new stake in shares of Arqit Quantum in the fourth quarter worth about $937,000. Virtu Financial LLC bought a new position in shares of Arqit Quantum in the fourth quarter worth approximately $231,000. Finally, BIT Capital GmbH bought a new position in shares of Arqit Quantum in the fourth quarter worth approximately $207,000. 16.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright upped their price objective on shares of Arqit Quantum from $27.00 to $52.00 and gave the company a "buy" rating in a report on Tuesday, December 31st.
View Our Latest Report on ARQQ
About Arqit Quantum
(
Get Free Report)
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.
Featured Stories
Before you consider Arqit Quantum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arqit Quantum wasn't on the list.
While Arqit Quantum currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
