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

Arqit Quantum Inc. (NASDAQ:ARQQ) experienced a noticeable decline in short interest for January. As of January 15th, the short interest stood at 385,300 shares, marking a decrease of 13.9% from the previous total of 447,400 shares at the end of December. This indicates that about 6.3% of the company's shares are currently sold short. With an average trading volume of 919,900 shares, the short-interest ratio now sits at a mere 0.4 days.

Analysts Set New Price Targets

In a separate note, HC Wainwright upgraded their target price for Arqit Quantum from $27.00 to $52.00, reiterating a "buy" rating in their report dated December 31st.

Arqit Quantum Stock Performance

On the trading day that followed, shares of NASDAQ ARQQ dipped by 4.5%, closing at $20.50. During trading, the volume reached 568,071 shares, which is lower than the average volume of 1,002,238 shares. Over the past year, Arqit Quantum's stock has fluctuated between a low of $3.72 and a high of $52.79. Currently, the company’s fifty-day moving average is $27.37, while the two-hundred-day moving average is $14.29.

Institutional Investment Activity

Recently, Veracity Capital LLC acquired a new stake in Arqit Quantum during the fourth quarter. Their recent filing with the Securities and Exchange Commission revealed the purchase of 10,804 shares, valued at approximately $420,000. Presently, hedge funds and other institutional investors collectively own about 16.60% of Arqit Quantum's stock.

Overview of Arqit Quantum

Arqit Quantum Inc. provides cybersecurity solutions through both satellite and terrestrial platforms based in the United Kingdom. The company’s QuantumCloud service allows for the generation of unbreakable software encryption keys. Additionally, it offers ongoing maintenance, support, and professional services to its clients.

Conclusion

As analysts adjust their price targets and investment firms take positions in Arqit Quantum, investors are advised to monitor the company's stock performance and the evolving landscape in quantum computing technology.

Arqit, Quantum, Stocks