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

Arqit Quantum Inc. (NASDAQ:ARQQGet 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.

Recommended Stories

Want More Great Investing Ideas?

Receive News & Ratings for Arqit Quantum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arqit Quantum and related companies with MarketBeat.com's FREE daily email newsletter.