Arqit Quantum Inc. (NASDAQ:ARQQ) Short Interest Down 11.0% in October

Arqit Quantum Inc. (NASDAQ:ARQQGet Rating) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 752,500 shares, a decline of 11.0% from the October 15th total of 845,800 shares. Based on an average daily volume of 434,300 shares, the short-interest ratio is presently 1.7 days. Currently, 4.2% of the company’s shares are short sold.

Institutional Trading of Arqit Quantum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARQQ. Truist Financial Corp bought a new stake in Arqit Quantum during the first quarter valued at $211,000. LA Financiere DE L Echiquier boosted its position in shares of Arqit Quantum by 44.0% during the 1st quarter. LA Financiere DE L Echiquier now owns 216,700 shares of the company’s stock valued at $3,377,000 after purchasing an additional 66,200 shares in the last quarter. BlackRock Inc. grew its stake in Arqit Quantum by 25.5% during the first quarter. BlackRock Inc. now owns 85,902 shares of the company’s stock worth $1,338,000 after purchasing an additional 17,477 shares during the period. First Trust Advisors LP bought a new stake in Arqit Quantum in the first quarter worth approximately $28,153,000. Finally, Invesco Ltd. lifted its stake in Arqit Quantum by 86.5% in the first quarter. Invesco Ltd. now owns 85,633 shares of the company’s stock valued at $1,334,000 after buying an additional 39,716 shares during the period. Institutional investors and hedge funds own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on Arqit Quantum in a report on Tuesday, July 19th. They issued a “hold” rating and a $7.00 price objective for the company.

Arqit Quantum Stock Performance

Shares of ARQQ opened at $7.86 on Wednesday. The business has a 50-day moving average of $6.05 and a 200-day moving average of $6.15. Arqit Quantum has a 1 year low of $3.80 and a 1 year high of $41.46.

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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