Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) saw a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 385,300 shares, a decrease of 13.9% from the December 31st total of 447,400 shares. Approximately 6.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 919,900 shares, the short-interest ratio is currently 0.4 days.
Institutional Investors Weigh In On Arqit Quantum
A hedge fund recently bought a new stake in Arqit Quantum stock. Veracity Capital LLC bought a new position in shares of Arqit Quantum Inc. (NASDAQ:ARQQ – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,804 shares of the company’s stock, valued at approximately $420,000. Veracity Capital LLC owned approximately 0.09% of Arqit Quantum as of its most recent SEC filing. 16.60% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright increased their target price on shares of Arqit Quantum from $27.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st.
Arqit Quantum Stock Down 3.8 %
ARQQ stock traded down $0.77 on Monday, hitting $19.73. 286,897 shares of the company’s stock were exchanged, compared to its average volume of 1,014,411. The firm has a 50 day moving average price of $27.37 and a two-hundred day moving average price of $14.35. Arqit Quantum has a 12-month low of $3.72 and a 12-month high of $52.79.
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.
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