Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 415,100 shares, an increase of 86.7% from the November 15th total of 222,300 shares. Based on an average daily trading volume, of 362,500 shares, the days-to-cover ratio is currently 1.1 days. Currently, 10.0% of the shares of the company are sold short.
Analyst Upgrades and Downgrades
Separately, HC Wainwright raised their target price on shares of Arqit Quantum from $22.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, December 6th.
Get Our Latest Stock Report on Arqit Quantum
Institutional Trading of Arqit Quantum
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 - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $34,000. Cowen AND Company LLC owned 0.06% of Arqit Quantum as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 16.60% of the company's stock.
Arqit Quantum Price Performance
ARQQ traded up $0.27 during trading on Thursday, reaching $24.21. 1,529,741 shares of the company were exchanged, compared to its average volume of 143,841. Arqit Quantum has a 52 week low of $3.72 and a 52 week high of $32.50. The firm has a 50 day moving average of $10.55 and a 200 day moving average of $9.04.
About Arqit Quantum
(
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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.
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