Quanergy Systems, Inc. (NYSE:QNGY – Get Rating) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 980,400 shares, an increase of 392.4% from the October 15th total of 199,100 shares. Approximately 34.6% of the company's shares are sold short. Based on an average trading volume of 2,860,000 shares, the short-interest ratio is presently 0.3 days.
Hedge Funds Weigh In On Quanergy Systems
Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. bought a new position in shares of Quanergy Systems during the 1st quarter worth approximately $1,243,000. BlackRock Inc. bought a new stake in shares of Quanergy Systems in the 1st quarter worth approximately $809,000. Kamunting Street Capital Management L.P. purchased a new position in Quanergy Systems in the 2nd quarter valued at approximately $76,000. State Street Corp purchased a new position in Quanergy Systems in the 1st quarter valued at approximately $240,000. Finally, Oasis Management Co Ltd. purchased a new position in shares of Quanergy Systems during the 1st quarter valued at $184,000. Institutional investors own 11.13% of the company's stock.
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Quanergy Systems Stock Performance
Shares of QNGY traded up $0.11 during trading hours on Friday, hitting $0.38. The stock had a trading volume of 3,280,738 shares, compared to its average volume of 8,938,315. The firm has a 50 day simple moving average of $3.11 and a 200-day simple moving average of $9.19. Quanergy Systems has a 1-year low of $0.22 and a 1-year high of $201.20.
Quanergy Systems (NYSE:QNGY – Get Rating) last issued its earnings results on Thursday, August 11th. The company reported ($4.40) EPS for the quarter. The firm had revenue of $1.19 million during the quarter.
Quanergy Systems Company Profile
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Quanergy Systems, Inc develops and markets light detection and ranging (LiDAR) solutions for automotive and IoT applications. The company offers M1 LiDAR sensor for mid-long range industrial measurement applications; M1 Edge 2D LiDAR sensor that enables reliable collision avoidance and smart navigation; M8 LiDAR sensor, which provides 3D perception using multiple eye-safe laser beams and time-of-flight measurement technology; MQ-8 LiDAR sensor for flow management applications; M8-Prime 3D LiDAR sensor that provides industry-leading pinpoint accuracy and captures for industrial and mapping applications; S3 solid state LiDAR sensor; QORTEX DTC, a 3D computer perception software; and QORTEX people counter enables the development of accurate and innovative people counting and queue management applications.
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