Short Interest in Arqit Quantum Inc. (NASDAQ:ARQQ) Declines By 22.5%

Arqit Quantum Inc. (NASDAQ:ARQQ) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 867,700 shares, a decline of 22.5% from the August 15th total of 1,120,000 shares. Based on an average trading volume of 1,590,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 2.0% of the shares of the stock are short sold.

Arqit Quantum Stock Performance

Shares of Arqit Quantum stock traded down $0.04 during midday trading on Monday, hitting $0.58. The company’s stock had a trading volume of 757,123 shares, compared to its average volume of 1,804,614. The stock has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $1.15. Arqit Quantum has a 1-year low of $0.57 and a 1-year high of $10.67.

Institutional Trading of Arqit Quantum

A number of institutional investors have recently bought and sold shares of ARQQ. Evolution Equity Partners II SARL acquired a new stake in shares of Arqit Quantum in the fourth quarter worth about $35,853,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Arqit Quantum in the fourth quarter worth about $15,885,000. First Trust Advisors LP bought a new position in Arqit Quantum during the first quarter valued at about $28,153,000. Penserra Capital Management LLC increased its stake in Arqit Quantum by 2,831.9% during the second quarter. Penserra Capital Management LLC now owns 1,702,872 shares of the company’s stock valued at $2,060,000 after acquiring an additional 1,644,792 shares during the period. Finally, Citigroup Inc. increased its stake in Arqit Quantum by 314.2% during the second quarter. Citigroup Inc. now owns 374,059 shares of the company’s stock valued at $453,000 after acquiring an additional 283,755 shares during the period. Institutional investors and hedge funds own 11.16% of the company’s stock.

About Arqit Quantum

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.