Short Interest in KWESST Micro Systems Inc. (NASDAQ:KWE) Grows By 59.4%

KWESST Micro Systems Inc. (NASDAQ:KWE) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 241,700 shares, a growth of 59.4% from the September 15th total of 151,600 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily volume of 761,400 shares, the short-interest ratio is currently 0.3 days.

KWESST Micro Systems Stock Performance

Shares of KWE remained flat at $0.15 during trading hours on Monday. The company had a trading volume of 100,523 shares, compared to its average volume of 2,362,277. The stock has a 50-day moving average price of $0.16 and a 200-day moving average price of $0.42. The firm has a market capitalization of $1.64 million, a P/E ratio of -0.12 and a beta of 1.46. KWESST Micro Systems has a 52-week low of $0.13 and a 52-week high of $1.89.

KWESST Micro Systems (NASDAQ:KWE) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.10) earnings per share for the quarter. KWESST Micro Systems had a negative return on equity of 478.39% and a negative net margin of 711.72%. The business had revenue of $0.24 million for the quarter.

Institutional Investors Weigh In On KWESST Micro Systems

A hedge fund recently bought a new stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 112,300 shares of the company’s stock, valued at approximately $52,000. Warberg Asset Management LLC owned about 1.01% of KWESST Micro Systems as of its most recent SEC filing. 21.39% of the stock is currently owned by institutional investors and hedge funds.

About KWESST Micro Systems

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.