Pasqal Holding SA (NASDAQ:PSQL) Shares Shorted: Short Interest Up 159.4% in October

Pasqal Holding SA (NASDAQ:PSQL) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 810,194 shares, an increase of 159.4% from the September 30th total of 312,336 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 1,043,331 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

PSQL has been the subject of several analyst reports. UBS Group set a $16.00 price target on shares of Pasqal in a report on Tuesday, September 22nd. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price objective on shares of Pasqal in a report on Monday, September 28th. Williams Trading set a $16.00 target price on Pasqal in a report on Wednesday, September 30th. Needham & Company LLC began coverage on Pasqal in a report on Wednesday, September 30th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Benchmark raised shares of Pasqal to a “strong-buy” rating in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.80.

Pasqal Price Performance

Shares of Pasqal stock traded down $0.28 during trading on Thursday, reaching $5.24. The stock had a trading volume of 343,351 shares, compared to its average volume of 824,180. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.04 and a current ratio of 2.22. Pasqal has a 52 week low of $5.19 and a 52 week high of $24.69.

Pasqal Company Profile

Pasqal is a quantum computing company headquartered in France that develops neutral-atom quantum processors and related software. Its systems use individually controlled atoms as qubits, with the aim of addressing complex computational problems that are difficult to solve with conventional computers.

The company provides access to its quantum computing technology through cloud-based platforms and works with customers and research organizations on applications including optimization, molecular and materials simulation, energy, logistics, finance, and machine learning.