KWESST Micro Systems Inc. (NASDAQ:KWE) Short Interest Update

KWESST Micro Systems Inc. (NASDAQ:KWE) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 11,500 shares, a decrease of 40.4% from the May 15th total of 19,300 shares. Based on an average daily volume of 203,700 shares, the short-interest ratio is presently 0.1 days. Approximately 1.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KWESST Micro Systems stock. Virtu Financial LLC bought a new position in KWESST Micro Systems Inc. (NASDAQ:KWE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 70,744 shares of the company’s stock, valued at approximately $50,000. Virtu Financial LLC owned about 2.35% of KWESST Micro Systems at the end of the most recent reporting period. 21.39% of the stock is currently owned by hedge funds and other institutional investors.

KWESST Micro Systems Stock Down 10.8%

KWE stock traded down $0.73 during midday trading on Monday, hitting $6.02. The company’s stock had a trading volume of 176,189 shares, compared to its average volume of 151,353. The stock’s 50-day moving average price is $5.14 and its 200 day moving average price is $8.98. KWESST Micro Systems has a 1 year low of $3.86 and a 1 year high of $128.10.

KWESST Micro Systems (NASDAQ:KWE) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($4.29) earnings per share for the quarter. KWESST Micro Systems had a negative return on equity of 412.57% and a negative net margin of 464.74%. The company had revenue of $0.88 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of KWESST Micro Systems from a “hold” rating to a “sell” rating in a research report on Friday, May 30th.

KWESST Micro Systems Company Profile

KWESST Micro Systems Inc engages in the development and commercialization of tactical systems and ammunitions for military, public safety agencies, and personal defense markets. It provides non-lethal products, including PARA OPS devices and ARWEN products. The company was incorporated in 2017 and is headquartered in Ottawa, Canada.