Arqit Quantum Inc. (NASDAQ:ARQQ) Sees Significant Growth in Short Interest

Arqit Quantum Inc. (NASDAQ:ARQQ – Get Rating) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,600,000 shares, a growth of 30.1% from the March 15th total of 1,230,000 shares. Currently, 9.8% of the shares of the company are sold short. Based on an average daily trading volume, of 416,600 shares, the days-to-cover ratio is currently 3.8 days.

Large investors have recently modified their holdings of the business. Advisor Group Holdings Inc. bought a new stake in shares of Arqit Quantum in the third quarter valued at approximately $25,000. Geode Capital Management LLC purchased a new position in Arqit Quantum in the 3rd quarter valued at approximately $1,013,000. SB Management Ltd purchased a new position in Arqit Quantum in the 3rd quarter valued at approximately $10,035,000. Penserra Capital Management LLC purchased a new position in Arqit Quantum in the 3rd quarter valued at approximately $113,000. Finally, Morgan Stanley purchased a new position in Arqit Quantum in the 3rd quarter valued at approximately $181,000. Hedge funds and other institutional investors own 69.24% of the company’s stock.

ARQQ stock opened at $15.06 on Monday. The business’s fifty day moving average price is $15.40. Arqit Quantum has a fifty-two week low of $8.00 and a fifty-two week high of $41.52.

Arqit Quantum Company Profile (Get Rating)

Arqit Quantum Inc provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud that enables any device to download a lightweight software agent, which can create encryption keys in partnership with any other device. The company is based in London, the United Kingdom.

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