QinetiQ Group plc (OTCMKTS:QNTQY) Sees Significant Drop in Short Interest

QinetiQ Group plc (OTCMKTS:QNTQY) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 12,449 shares, a drop of 54.9% from the December 15th total of 27,581 shares. Based on an average daily volume of 7,163 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 7,163 shares, the short-interest ratio is currently 1.7 days.

QinetiQ Group Trading Down 2.6%

OTCMKTS QNTQY opened at $27.20 on Friday. QinetiQ Group has a fifty-two week low of $17.95 and a fifty-two week high of $31.77. The stock has a 50 day simple moving average of $23.82 and a two-hundred day simple moving average of $25.80.

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 report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently 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.