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

Key Points

• Short interest fell sharply by 72.7% to 266 shares as of October 15, down from 976 shares at the end of September. Shorted shares represented approximately 0.0% of the company’s outstanding stock.
• Quantum Leap Acquisition shares rose $0.01 to $10.07, trading within a 12-month range of $9.93 to $10.10.
• Weiss Ratings initiated coverage with a “sell” rating, giving the stock a consensus “Sell” rating. Separately, Lineage Point Capital disclosed a new 650,000-share position valued at approximately $6.45 million.

Quantum Leap Acquisition Corp (NYSE:QLEP - Get Free Report) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 266 shares, a decrease of 72.7% from the September 30th total of 976 shares. Based on an average daily trading volume, of 26,968 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

Quantum Leap Acquisition Stock Up 0.0%

NYSE QLEP traded up $0.01 on Wednesday, reaching $10.07. The stock had a trading volume of 6,267 shares. Quantum Leap Acquisition has a 12-month low of $9.93 and a 12-month high of $10.10. The company's fifty day moving average price is $10.04.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings initiated coverage on shares of Quantum Leap Acquisition in a report on Wednesday, September 16th. They issued a "sell (e)" rating for the company. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

Institutional Trading of Quantum Leap Acquisition

An institutional investor 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 - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 650,000 shares of the company's stock, valued at approximately $6,454,000. Quantum Leap Acquisition makes up 1.3% of Lineage Point Capital LP's holdings, making the stock its 13th biggest position. Lineage Point Capital LP owned 2.75% of Quantum Leap Acquisition as of its most recent SEC filing.

About Quantum Leap Acquisition

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.

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