Short Interest in KWESST Micro Systems Inc. (NASDAQ:KWE) Drops By 40.4%

KWESST Micro Systems Inc. (NASDAQ:KWE) was the recipient of a significant drop in short interest in May. As of May 31st, there was short interest totalling 11,500 shares, a drop 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 currently 0.1 days. Approximately 1.8% of the shares of the company are short sold.

Hedge Funds Weigh In On KWESST Micro Systems

An institutional investor recently bought a new position in KWESST Micro Systems stock. Virtu Financial LLC purchased a new position in KWESST Micro Systems Inc. (NASDAQ:KWE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 70,744 shares of the company’s stock, valued at approximately $50,000. Virtu Financial LLC owned 2.35% of KWESST Micro Systems as of its most recent SEC filing. Institutional investors own 21.39% of the company’s stock.

Analyst Ratings Changes

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

KWESST Micro Systems Stock Performance

NASDAQ:KWE traded down $0.73 during mid-day trading on Monday, reaching $6.02. The stock had a trading volume of 176,189 shares, compared to its average volume of 151,353. The firm has a 50 day moving average price of $5.14 and a two-hundred day moving average price of $8.98. KWESST Micro Systems has a one year low of $3.86 and a one year high of $128.10.

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

About KWESST Micro Systems

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.