Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 948,400 shares, a growth of 9.9% from the October 15th total of 862,900 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average trading volume of 994,500 shares, the days-to-cover ratio is presently 1.0 days.
Analyst Upgrades and Downgrades
Separately, HC Wainwright lowered their price target on shares of Arqit Quantum from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th.
Hedge Funds Weigh In On Arqit Quantum
Arqit Quantum Trading Down 8.3 %
Shares of ARQQ stock opened at $0.55 on Friday. The stock has a fifty day simple moving average of $0.54 and a two-hundred day simple moving average of $0.95. Arqit Quantum has a 52-week low of $0.39 and a 52-week high of $8.66.
Arqit Quantum Company Profile
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.
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