DEFSEC Technologies Inc. (NASDAQ:DFSC) Sees Significant Drop in Short Interest

DEFSEC Technologies Inc. (NASDAQ:DFSC) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 222,815 shares, a drop of 78.5% from the August 15th total of 1,035,201 shares. Approximately 11.2% of the company’s shares are short sold. Based on an average trading volume of 1,292,953 shares, the short-interest ratio is presently 0.2 days.

DEFSEC Technologies Stock Performance

Shares of DEFSEC Technologies stock traded down $0.01 during trading on Friday, hitting $1.43. 82,310 shares of the stock traded hands, compared to its average volume of 2,156,034. The stock has a market cap of $2.85 million, a P/E ratio of -0.31 and a beta of 2.79. The company has a fifty day moving average price of $1.66 and a two-hundred day moving average price of $2.48. DEFSEC Technologies has a twelve month low of $1.16 and a twelve month high of $6.00.

DEFSEC Technologies (NASDAQ:DFSC) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.92) earnings per share for the quarter. The business had revenue of $1.97 million for the quarter. DEFSEC Technologies had a negative net margin of 120.97% and a negative return on equity of 144.66%.

Hedge Funds Weigh In On DEFSEC Technologies

A hedge fund recently bought a new position in DEFSEC Technologies stock. Armistice Capital LLC purchased a new position in shares of DEFSEC Technologies Inc. (NASDAQ:DFSC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 filing with the SEC. Institutional investors and hedge funds own 21.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of DEFSEC Technologies in a research note on Friday, July 17th. Wall Street Zen upgraded DEFSEC Technologies to a “sell” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

DEFSEC Technologies Company Profile

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.