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

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

Pasqal Trading Down 5.1%

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSQL shares. Roth Capital began coverage on shares of Pasqal in a report on Wednesday, September 9th. They set a “buy” rating and a $20.00 price objective on the stock. Zacks Research upgraded shares of Pasqal to a “hold” rating in a report on Thursday, September 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 target price 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. Finally, Needham & Company LLC initiated coverage on Pasqal in a research note on Wednesday, September 30th. They set a “buy” rating and a $16.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pasqal has a consensus rating of “Buy” and an average price target of $16.80.

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.