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

Pasqal Holding SA (NASDAQ:PSQL) saw a significant increase in short interest in 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. Based on an average daily trading volume, of 1,043,331 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

PSQL has been the topic of several research reports. Zacks Research upgraded shares of Pasqal to a “hold” rating in a research note on Thursday, September 24th. UBS Group set a $16.00 price target on shares of Pasqal in a report on Tuesday, September 22nd. Roth Capital began coverage on shares of Pasqal in a research note on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective for the company. Benchmark raised Pasqal to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Williams Trading set a $16.00 price target on Pasqal in a research report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.00.

Pasqal Stock Performance

Shares of Pasqal stock traded down $0.00 on Friday, hitting $5.24. 406,901 shares of the company’s stock traded hands, compared to its average volume of 820,176. Pasqal has a one year low of $5.04 and a one year high of $24.69. The company has a current ratio of 2.22, a quick ratio of 2.04 and a debt-to-equity ratio of 0.13.

About Pasqal

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.