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

Arqit Quantum Inc. (NASDAQ:ARQQ – Get Rating) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 795,400 shares, a decline of 15.5% from the May 15th total of 941,100 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average daily volume of 360,700 shares, the short-interest ratio is presently 2.2 days.

A number of large investors have recently bought and sold shares of ARQQ. First Trust Advisors LP bought a new stake in Arqit Quantum during the first quarter worth about $28,153,000. Penserra Capital Management LLC lifted its stake in shares of Arqit Quantum by 3,268.2% in the fourth quarter. Penserra Capital Management LLC now owns 190,271 shares of the company’s stock worth $4,556,000 after buying an additional 184,622 shares in the last quarter. BlackRock Inc. bought a new position in shares of Arqit Quantum in the fourth quarter worth approximately $1,639,000. LA Financiere DE L Echiquier lifted its stake in shares of Arqit Quantum by 79.2% in the fourth quarter. LA Financiere DE L Echiquier now owns 150,500 shares of the company’s stock worth $3,605,000 after buying an additional 66,500 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Arqit Quantum by 118.9% in the fourth quarter. Geode Capital Management LLC now owns 110,586 shares of the company’s stock worth $2,648,000 after buying an additional 60,069 shares in the last quarter. 7.54% of the stock is currently owned by institutional investors and hedge funds.

Separately, HC Wainwright started coverage on shares of Arqit Quantum in a research note on Tuesday, April 26th. They set a “buy” rating and a $16.00 target price on the stock.

NASDAQ:ARQQ opened at $5.65 on Friday. Arqit Quantum has a one year low of $4.98 and a one year high of $41.52. The company’s 50-day simple moving average is $8.29 and its 200 day simple moving average is $14.94.

About Arqit Quantum (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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