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

Arqit Quantum Inc. (NASDAQ:ARQQ) noticed a notable drop in short interest during January. As of January 15th, the total short interest was 385,300 shares. This represents a decrease of 13.9% compared to the 447,400 shares reported on December 31st. Currently, approximately 6.3% of the company's total shares are sold short. Based on an average trading volume of 919,900 shares per day, the short-interest ratio stands at just 0.4 days.

Analysts Set New Price Targets

In a separate update, HC Wainwright has increased its target price for Arqit Quantum from $27.00 to $52.00, giving the stock a "buy" rating in a research note released on December 31st.

Arqit Quantum Stock Performance

On the trading day that followed, NASDAQ ARQQ experienced a decline of 4.5%, dropping to $20.50. The trading volume that day was 568,071 shares, which is lower than its average volume of 1,002,238. Over the past year, Arqit Quantum's stock has reached a low of $3.72 and a high of $52.79. As for its moving averages, the fifty-day average is $27.37, while the 200-day average is $14.29.

Institutional Holdings

Recently, a hedge fund known as Veracity Capital LLC acquired a new stake in Arqit Quantum. According to their latest Form 13F filing with the SEC, the firm bought 10,804 shares, amounting to approximately $420,000. As of the latest filing, Veracity Capital accounts for 0.09% ownership of Arqit Quantum. It is noted that approximately 16.60% of Arqit Quantum's stock is held by hedge funds and other institutional investors.

About Arqit Quantum

Arqit Quantum Inc. is a company that offers cybersecurity services through both satellite and terrestrial platforms, primarily in the United Kingdom. Their notable product, QuantumCloud, is a Platform as a Service that provides users with unbreakable software encryption keys. The company also offers various other support and professional services. Arqit Quantum is headquartered in London, United Kingdom.

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Investment Considerations

Before making any decisions regarding investment in Arqit Quantum, consider this information carefully.

Market analysts frequently update their reviews and recommended stocks they believe should be on investor radars. It is noted that while Arqit Quantum holds a "Buy" rating, some top analysts believe there are at least five other stocks that could offer better investment opportunities.

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