DEFSEC Technologies (NASDAQ:DFSC) Shares Down 6.1% – Here’s Why

Shares of DEFSEC Technologies Inc. (NASDAQ:DFSC) dropped 6.1% on Thursday . The stock traded as low as $1.51 and last traded at $1.55. Approximately 45,179 shares were traded during trading, a decline of 51% from the average session volume of 92,669 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

DFSC has been the subject of a number of recent research reports. Wall Street Zen raised shares of DEFSEC Technologies to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of DEFSEC Technologies in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

DEFSEC Technologies Stock Down 6.1%

The firm has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $2.58. The stock has a market capitalization of $3.08 million, a P/E ratio of -0.24 and a beta of 2.72.

DEFSEC Technologies (NASDAQ:DFSC) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.73) EPS for the quarter. The business had revenue of $1.52 million for the quarter. DEFSEC Technologies had a negative return on equity of 143.21% and a negative net margin of 141.81%.

Hedge Funds Weigh In On DEFSEC Technologies

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

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.