KWESST Micro Systems Inc. (NASDAQ:KWE) Sees Significant Increase in Short Interest

KWESST Micro Systems Inc. (NASDAQ:KWE) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 378,300 shares, an increase of 1,901.6% from the October 15th total of 18,900 shares. Approximately 23.2% of the company’s stock are sold short. Based on an average daily trading volume, of 270,900 shares, the days-to-cover ratio is currently 1.4 days.

KWESST Micro Systems Stock Down 9.9 %

KWESST Micro Systems stock traded down $0.07 during midday trading on Thursday, reaching $0.67. The company’s stock had a trading volume of 185,123 shares, compared to its average volume of 277,657. The company has a market cap of $1.06 million, a P/E ratio of -0.09 and a beta of 1.52. The business has a 50-day simple moving average of $1.34 and a 200-day simple moving average of $3.06. KWESST Micro Systems has a fifty-two week low of $0.65 and a fifty-two week high of $16.73.

KWESST Micro Systems (NASDAQ:KWE) last issued its earnings results on Wednesday, August 14th. The company reported ($1.00) earnings per share (EPS) for the quarter. KWESST Micro Systems had a negative net margin of 711.72% and a negative return on equity of 478.39%. The company had revenue of $0.24 million during the quarter.

Institutional Investors Weigh In On KWESST Micro Systems

An institutional investor recently bought a new position in KWESST Micro Systems stock. Warberg Asset Management LLC bought a new position in shares of KWESST Micro Systems Inc. (NASDAQ:KWE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,300 shares of the company’s stock, valued at approximately $52,000. Warberg Asset Management LLC owned 1.01% of KWESST Micro Systems as of its most recent filing with the Securities and Exchange Commission (SEC). 21.39% of the stock is owned by institutional investors.

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.