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

Arqit Quantum Inc. (NASDAQ:ARQQ) experienced a notable drop in short interest during January. As of January 15th, the total short interest amounted to 385,300 shares, reflecting a 13.9% decrease from the December 31st figure of 447,400 shares. Currently, about 6.3% of the company's shares are short sold. Given the average daily trading volume of 919,900 shares, the short-interest ratio stands at 0.4 days.

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Analysts Set New Price Targets

• Beyond Rigetti: Top Quantum Computing Stock Picks

In a separate development, HC Wainwright has increased its target price on Arqit Quantum from $27.00 to $52.00, assigning the stock a "buy" rating in a research report issued on December 31st.

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Arqit Quantum Stock Performance

• Two Underrated Quantum Computing Companies on the Rise

On Friday, the NASDAQ ARQQ stock fell by $0.97, reaching a price of $20.50. The trading volume was 568,071 shares, which is lower than the average volume of 1,002,238 shares. Over the past year, the stock has recorded a low of $3.72 and a high of $52.79. The fifty-day moving average stands at $27.37, while the 200-day moving average is $14.29.

Institutional Investment Activity

Recent filings reveal that a hedge fund has taken a new position in Arqit Quantum. Veracity Capital LLC, during the fourth quarter, acquired 10,804 shares of Arqit Quantum Inc. (NASDAQ:ARQQ) according to its latest Form 13F submitted to the Securities and Exchange Commission. This stock purchase is valued at about $420,000, which constitutes approximately 0.09% of Veracity Capital's holdings in Arqit Quantum as of the latest filing. Overall, 16.60% of the stock is held by hedge funds and other institutional investors.

Overview of Arqit Quantum

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Arqit Quantum Inc offers cybersecurity solutions via satellite and terrestrial platforms in the United Kingdom. The company provides QuantumCloud, a Platform as a Service that generates virtually unbreakable software encryption keys. In addition to these services, Arqit Quantum also offers maintenance, support, and professional services. The company is headquartered in London, UK.

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