Short Interest in DEFSEC Technologies Inc. (NASDAQ:DFSC) Drops By 65.3%

DEFSEC Technologies Inc. (NASDAQ:DFSC) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 23,983 shares, a drop of 65.3% from the July 15th total of 69,163 shares. Based on an average daily volume of 60,060 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.2% of the shares of the company are sold short.

Institutional Trading of DEFSEC Technologies

A hedge fund recently bought a new position in DEFSEC Technologies stock. Armistice Capital LLC purchased a new stake in shares of DEFSEC Technologies Inc. (NASDAQ:DFSC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 158,036 shares of the company’s stock, valued at approximately $269,000. Armistice Capital LLC owned about 11.05% of DEFSEC Technologies as of its most recent SEC filing. 21.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

DEFSEC Technologies Stock Up 29.9%

DFSC traded up $0.69 during midday trading on Friday, reaching $3.00. 26,819,152 shares of the company’s stock were exchanged, compared to its average volume of 5,759,646. The firm has a market capitalization of $5.98 million, a price-to-earnings ratio of -0.65 and a beta of 2.76. DEFSEC Technologies has a one year low of $1.16 and a one year high of $6.00. The business has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $2.52.

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