Arqit Quantum Inc. (NASDAQ:ARQQ) Short Interest Overview

Arqit Quantum Inc. (NASDAQ:ARQQ) has experienced a noteworthy decline in short interest for January. As recorded on January 15th, the total short interest stood at 385,300 shares, reflecting a 13.9% drop from the 447,400 shares reported on December 31st. This decline suggests that approximately 6.3% of the company’s shares are currently sold short. Furthermore, with an average trading volume of 919,900 shares, the short-interest ratio is calculated to be 0.4 days.

Analyst Updates and Price Targets

In a separate note, HC Wainwright announced a revision in their price target for Arqit Quantum, raising it from $27.00 to $52.00, while maintaining a "buy" rating for the stock on December 31st.

Recent Stock Performance

On the trading front, shares of NASDAQ: ARQQ fell by 4.5%, closing at $20.50. The stock had a trading volume of 568,071 shares, in comparison to the average volume of 1,002,238 shares. Over the last year, Arqit Quantum reached a low of $3.72 and a high of $52.79. The fifty-day moving average for the stock is $27.37, while the 200-day moving average is $14.29.

Institutional Investment Activity

A recent development in the investment sector includes a new stake acquisition in Arqit Quantum by Veracity Capital LLC, according to their Form 13F filed with the SEC. During the fourth quarter, the hedge fund purchased 10,804 shares of Arqit Quantum, amounting to approximately $420,000, leading to a 0.09% ownership in the stock. Altogether, 16.60% of Arqit Quantum is held by institutional investors.

Company Overview

Arqit Quantum Inc. specializes in cybersecurity services, using both satellite and terrestrial platforms primarily in the UK. Their flagship service, QuantumCloud, is a Platform as a Service that enables the creation of unbreakable encryption keys. The company also offers ongoing maintenance, support, and professional services, with its headquarters located in London, UK.

Conclusion

This article outlines recent developments regarding Arqit Quantum's share performance, short interest trends, and analyst ratings. Investors should stay informed about emerging trends within the quantum technology sector.

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