Arqit Quantum Inc. (NASDAQ:ARQQ) experienced a significant decline in short interest during the month of August. On August 31st, the short interest totaled 867,700 shares, a 22.5% decrease from the total on August 15th, which was 1,120,000 shares. With an average trading volume of 1,590,000 shares, the current days-to-cover ratio stands at 0.5 days. Currently, 2.0% of the stock’s shares are sold short.
Shares of Arqit Quantum stock were trading at $0.58 during midday trading on Monday. The company had a trading volume of 757,123 shares, compared to an 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’s 1-year low is $0.57, while its 1-year high is $10.67.
In terms of institutional trading, several investors have bought and sold shares of ARQQ. Evolution Equity Partners II SARL acquired a stake worth approximately $35,853,000, while Mirae Asset Global Investments Co. Ltd. purchased a position valued at about $15,885,000. First Trust Advisors LP also bought shares of Arqit Quantum worth $28,153,000 during the first quarter. Additionally, Penserra Capital Management LLC increased its stake in the company by 2,831.9% during the second quarter, and Citigroup Inc. raised its stake by 314.2% during the same period. In total, institutional investors and hedge funds now own 11.16% of Arqit Quantum’s stock.
Arqit Quantum Inc. is a UK-based company that provides cybersecurity services through satellite and terrestrial platforms. It offers QuantumCloud, a Platform as a Service (PaaS) that creates unbreakable software encryption keys. The company also provides maintenance and support, as well as professional services.
Sources:
– Arqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report)
– Arqit Quantum Inc. company description