Pasqal Holding SA (NASDAQ:PSQL) Sees Large Increase in Short Interest

Pasqal Holding SA (NASDAQ:PSQL) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 151,676 shares, a growth of ∞ from the August 15th total of 0 shares. Based on an average trading volume of 509,697 shares, the days-to-cover ratio is currently 0.3 days.

Pasqal Stock Performance

NASDAQ:PSQL traded down $0.31 during mid-day trading on Wednesday, hitting $7.46. 517,536 shares of the company’s stock traded hands, compared to its average volume of 1,191,788. Pasqal has a 12 month low of $7.00 and a 12 month high of $24.69.

Wall Street Analysts Forecast Growth

Separately, Roth Capital initiated coverage on shares of Pasqal in a research report on Wednesday, September 9th. They set a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $20.00.

Pasqal is a quantum computing company focused on developing neutral-atom quantum processors and related software. Its technology uses individually controlled atoms as quantum bits, or qubits, with the goal of supporting scalable quantum computing for complex computational problems.

The company develops quantum hardware, control systems and software tools that enable customers and researchers to access and program its systems. Its offerings are intended for applications including optimization, quantum simulation, machine learning and other scientific or industrial workloads.