Short Interest in KWESST Micro Systems Inc. (NASDAQ:KWE) Declines By 92.2%

KWESST Micro Systems Inc. (NASDAQ:KWE) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 18,900 shares, a decline of 92.2% from the September 30th total of 241,700 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average trading volume of 172,100 shares, the short-interest ratio is presently 0.1 days.

KWESST Micro Systems Stock Performance

Shares of NASDAQ:KWE traded up $0.26 during trading on Friday, reaching $1.76. The stock had a trading volume of 2,629,221 shares, compared to its average volume of 276,742. The business has a fifty day moving average price of $0.18 and a 200-day moving average price of $0.38. KWESST Micro Systems has a fifty-two week low of $1.16 and a fifty-two week high of $16.73.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KWESST Micro Systems stock. Warberg Asset Management LLC acquired a new position in KWESST Micro Systems Inc. (NASDAQ:KWE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,300 shares of the company’s stock, valued at approximately $52,000. Warberg Asset Management LLC owned approximately 1.01% of KWESST Micro Systems as of its most recent SEC filing. 21.39% of the stock is owned by institutional investors and hedge funds.

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.