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

Arqit Quantum Inc. (NASDAQ:ARQQ - Get Free Report) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 447,400 shares, a growth of 50.0% from the December 15th total of 298,200 shares. Based on an average daily trading volume, of 732,700 shares, the short-interest ratio is presently 0.6 days. Approximately 8.2% of the shares of the company are short sold.

Arqit Quantum Stock Performance

ARQQ stock traded up $2.54 during mid-day trading on Wednesday, hitting $20.59. The company had a trading volume of 1,314,483 shares, compared to its average volume of 982,727. Arqit Quantum has a 12 month low of $3.72 and a 12 month high of $52.79. The stock's fifty day moving average price is $23.30 and its two-hundred day moving average price is $12.89.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective on shares of Arqit Quantum from $27.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st.

Arqit Quantum Company Profile

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.