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

DEFSEC Technologies Inc. (NASDAQ:DFSC) saw a large drop in short interest during the month of 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. Based on an average daily volume of 1,292,953 shares, the days-to-cover ratio is currently 0.2 days. Approximately 11.2% of the shares of the company are sold short.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in DEFSEC Technologies stock. Armistice Capital LLC purchased a new position in shares of DEFSEC Technologies Inc. (NASDAQ:DFSC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 158,036 shares of the company’s stock, valued at approximately $269,000. Armistice Capital LLC owned 11.05% of DEFSEC Technologies at the end of the most recent quarter. 21.39% of the stock is owned by hedge funds and other institutional investors.

DEFSEC Technologies Stock Performance

NASDAQ DFSC traded down $0.01 during mid-day trading on Friday, reaching $1.43. 82,310 shares of the stock were exchanged, compared to its average volume of 2,156,034. The stock has a market capitalization of $2.85 million, a PE ratio of -0.31 and a beta of 2.79. DEFSEC Technologies has a 1-year low of $1.16 and a 1-year high of $6.00. The business’s fifty day simple moving average is $1.66 and its 200 day simple moving average is $2.48.

DEFSEC Technologies (NASDAQ:DFSC) last released its earnings results 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 business had revenue of $1.97 million during the quarter.

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.