Short Interest in QinetiQ Group plc (OTCMKTS:QNTQY) Drops By 76.6%

QinetiQ Group plc (OTCMKTS:QNTQY) was the target of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 1,776 shares, a decline of 76.6% from the January 29th total of 7,590 shares. Based on an average daily trading volume, of 3,923 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 3,923 shares, the days-to-cover ratio is presently 0.5 days.

QinetiQ Group Stock Performance

QinetiQ Group stock traded up $0.32 during trading hours on Friday, reaching $27.69. 240 shares of the company’s stock traded hands, compared to its average volume of 5,379. QinetiQ Group has a fifty-two week low of $18.50 and a fifty-two week high of $31.77. The firm’s 50 day moving average is $26.82 and its 200-day moving average is $25.91.

Wall Street Analysts Forecast Growth

Separately, Kepler Capital Markets upgraded shares of QinetiQ Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

About QinetiQ Group

QinetiQ Group is a defense technology and services company headquartered in Farnborough, United Kingdom. The company’s core business centers on research, development and innovation across aerospace, defense, security and energy markets. QinetiQ provides end-to-end capabilities including test and evaluation services, systems engineering, consultancy and training, supporting platforms and systems from concept through deployment.

Established in 2001 following the privatization of the UK’s Defence Evaluation and Research Agency (DERA), QinetiQ has expanded its footprint to key locations in the United States, Australia and Europe.