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

DEFSEC Technologies Inc. (NASDAQ:DFSC) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 222,815 shares, a decrease 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 days-to-cover ratio is presently 0.2 days.

DEFSEC Technologies Price Performance

Shares of DEFSEC Technologies stock opened at $1.44 on Friday. The business has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $2.49. DEFSEC Technologies has a one year low of $1.16 and a one year high of $6.00. The firm has a market capitalization of $2.87 million, a price-to-earnings ratio of -0.31 and a beta of 2.79.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On DEFSEC Technologies

An institutional investor recently bought a new stake in DEFSEC Technologies stock. Armistice Capital LLC bought a new position in DEFSEC Technologies Inc. (NASDAQ:DFSC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 158,036 shares of the company’s stock, valued at approximately $269,000. Armistice Capital LLC owned approximately 11.05% of DEFSEC Technologies at the end of the most recent reporting period. Institutional investors and hedge funds 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.