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

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 447,400 shares, an increase of 50.0% from the December 15th total of 298,200 shares. Based on an average daily volume of 732,700 shares, the short-interest ratio is presently 0.6 days. Currently, 8.2% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, HC Wainwright lifted their price target on Arqit Quantum from $27.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st.

Arqit Quantum Price Performance

ARQQ stock traded up $8.14 during trading on Thursday, hitting $28.73. 2,442,973 shares of the company’s stock were exchanged, compared to its average volume of 1,018,782. Arqit Quantum has a 52-week low of $3.72 and a 52-week high of $52.79. The business has a 50-day moving average price of $23.30 and a two-hundred day moving average price of $12.89.

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.