Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 298,200 shares, a decline of 28.2% from the November 30th total of 415,100 shares. Based on an average daily volume of 581,300 shares, the days-to-cover ratio is currently 0.5 days. Currently, 5.5% of the company's shares are short sold.
Hedge Funds Weigh In On Arqit Quantum
An institutional investor recently bought a new position in Arqit Quantum stock. Cowen AND Company LLC purchased a new position in Arqit Quantum Inc. (NASDAQ:ARQQ - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the company's stock, valued at approximately $34,000. Cowen AND Company LLC owned about 0.06% of Arqit Quantum as of its most recent SEC filing. 16.60% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, HC Wainwright boosted their price objective on shares of Arqit Quantum from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, December 6th.
Get Our Latest Stock Report on Arqit Quantum
Arqit Quantum Trading Down 2.6 %
Shares of Arqit Quantum stock traded down $1.14 on Friday, hitting $42.69. 2,260,373 shares of the company's stock were exchanged, compared to its average volume of 202,358. The company has a 50-day simple moving average of $16.99 and a 200-day simple moving average of $10.86. Arqit Quantum has a 1 year low of $3.72 and a 1 year high of $52.79.
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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