DEFSEC Technologies Inc. (NASDAQ:DFSC) Sees Large Decrease in Short Interest

DEFSEC Technologies Inc. (NASDAQ:DFSC) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 69,163 shares, a decrease of 51.5% from the June 30th total of 142,648 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 75,732 shares, the days-to-cover ratio is currently 0.9 days.

Analysts Set New Price Targets

DFSC has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of DEFSEC Technologies in a research report on Friday, July 17th. Wall Street Zen upgraded DEFSEC Technologies to a “sell” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, DEFSEC Technologies currently has an average rating of “Sell”.

DEFSEC Technologies Stock Performance

Shares of NASDAQ:DFSC traded up $0.05 during trading hours on Thursday, hitting $1.33. The stock had a trading volume of 10,900 shares, compared to its average volume of 126,582. The stock’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $2.56. DEFSEC Technologies has a 1-year low of $1.20 and a 1-year high of $6.00. The firm has a market capitalization of $2.64 million, a price-to-earnings ratio of -0.20 and a beta of 2.72.

DEFSEC Technologies (NASDAQ:DFSC) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.73) earnings per share (EPS) for the quarter. DEFSEC Technologies had a negative return on equity of 143.21% and a negative net margin of 141.81%.The business had revenue of $1.52 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in DEFSEC Technologies stock. Armistice Capital LLC acquired a new stake in shares of DEFSEC Technologies Inc. (NASDAQ:DFSC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 158,036 shares of the company’s stock, valued at approximately $269,000. Armistice Capital LLC owned approximately 11.05% of DEFSEC Technologies as of its most recent SEC filing. Institutional investors own 21.39% of the company’s stock.

About DEFSEC Technologies

DEFSEC develops and commercializes breakthrough next-generation tactical systems for military and security forces. The Company’s current portfolio of offerings includes digitization of tactical forces for real-time shared situational awareness and targeting information from any source (including drones) streamed directly to users’ smart devices and weapons. Other DEFSEC products include countermeasures against threats such as electronic detection, lasers and drones. These systems can operate stand-alone or integrate seamlessly with OEM products and battlefield management systems, and all come integrated with TAK.