Quantum Leap Acquisition Corp (NYSE:QLEP) Sees Large Decline in Short Interest

Quantum Leap Acquisition Corp (NYSE:QLEP) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 976 shares, a drop of 59.7% from the September 15th total of 2,424 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 7,826 shares, the short-interest ratio is currently 0.1 days.

Quantum Leap Acquisition Price Performance

Shares of Quantum Leap Acquisition stock remained flat at $10.07 during trading hours on Tuesday. The company’s stock had a trading volume of 155 shares, compared to its average volume of 45,454. Quantum Leap Acquisition has a 12 month low of $9.93 and a 12 month high of $10.10. The firm has a 50 day moving average of $10.02.

Institutional Trading of Quantum Leap Acquisition

A hedge fund recently bought a new position in Quantum Leap Acquisition stock. Lineage Point Capital LP bought a new position in shares of Quantum Leap Acquisition Corp (NYSE:QLEP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 650,000 shares of the company’s stock, valued at approximately $6,454,000. Quantum Leap Acquisition accounts for approximately 1.3% of Lineage Point Capital LP’s holdings, making the stock its 13th largest position. Lineage Point Capital LP owned approximately 2.75% of Quantum Leap Acquisition as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QLEP. Wall Street Zen upgraded shares of Quantum Leap Acquisition to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings started coverage on shares of Quantum Leap Acquisition in a report on Wednesday, September 16th. They issued a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Quantum Leap Acquisition Company Profile

Quantum Leap Acquisition Corp. is a blank check company. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Quantum Leap Acquisition Corp. is based in Menlo Park, California.