Arqit Quantum Inc. (NASDAQ:ARQQ) Short Interest Up 50.0% in December

Arqit Quantum Inc. (NASDAQ:ARQQ) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 447,400 shares, an increase of 50.0% from the December 15th total of 298,200 shares. Based on an average trading volume of 732,700 shares, the short-interest ratio is presently 0.6 days. Approximately 8.2% of the shares of the stock are short sold.

Arqit Quantum Price Performance

Shares of NASDAQ:ARQQ traded up $3.65 during trading on Wednesday, reaching $21.70. The company had a trading volume of 840,902 shares, compared to its average volume of 929,298. The company has a fifty day moving average of $23.00 and a two-hundred day moving average of $12.83. Arqit Quantum has a 12 month low of $3.72 and a 12 month high of $52.79.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright boosted their price objective on Arqit Quantum from $27.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st.

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.