IQE plc (OTCMKTS:IQEPF) Sees Significant Growth in Short Interest

IQE plc (OTCMKTS:IQEPFGet Rating) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 47,300 shares, a growth of 514.3% from the March 15th total of 7,700 shares. Based on an average daily volume of 14,500 shares, the short-interest ratio is currently 3.3 days.

Shares of IQEPF remained flat at $$0.43 during trading hours on Tuesday. The stock’s 50-day moving average price is $0.49 and its 200 day moving average price is $0.52. IQE has a 12-month low of $0.21 and a 12-month high of $0.95.

A number of equities research analysts have weighed in on IQEPF shares. Canaccord Genuity Group downgraded IQE from a “speculative buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Canaccord Genuity Group downgraded IQE from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th. Barclays decreased their price objective on IQE from GBX 50 ($0.65) to GBX 42 ($0.55) and set an “equal weight” rating on the stock in a report on Wednesday, January 19th. Finally, Zacks Investment Research upgraded IQE from a “sell” rating to a “hold” rating in a report on Wednesday, January 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.00.

About IQE (Get Rating)

IQE plc develops, manufactures, and sells advanced semiconductor materials. The company operates in three segments: Wireless, Photonics, and CMOS++. It manufactures compound semiconductor wafers or epiwafers using epitaxy process; offers wireless products, including GaAs, GaN, and InP-based technologies, as well as Si and Ge-based epitaxial wafer structures; and supplies GaAs HBTs, pHEMTs, and BiFETs/BiHEMTs for use in consumer mobile handsets, connected devices, 5G network infrastructure, WiFi 6, Bluetooth, and satellite communications.

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