Short Interest in QinetiQ Group plc (OTCMKTS:QNTQY) Grows By 514.3%

QinetiQ Group plc (OTCMKTS:QNTQY) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 27,581 shares, an increase of 514.3% from the November 30th total of 4,490 shares. Based on an average daily trading volume, of 3,124 shares, the days-to-cover ratio is currently 8.8 days. Based on an average daily trading volume, of 3,124 shares, the days-to-cover ratio is currently 8.8 days.

Analysts Set New Price Targets

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

QinetiQ Group Price Performance

OTCMKTS:QNTQY traded up $0.58 during trading hours on Friday, hitting $24.05. 1,952 shares of the stock traded hands, compared to its average volume of 4,223. QinetiQ Group has a fifty-two week low of $17.95 and a fifty-two week high of $31.77. The firm has a 50 day moving average price of $23.70 and a 200 day moving average price of $26.02.

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.