Nukkleus (NASDAQ:DFNS) Shares Down 5.5% – Here’s Why

Nukkleus Inc. (NASDAQ:DFNS)’s stock price was down 5.5% during mid-day trading on Tuesday . The company traded as low as $1.20 and last traded at $1.20. Approximately 545,144 shares changed hands during trading, a decline of 76% from the average daily volume of 2,314,708 shares. The stock had previously closed at $1.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Nukkleus in a research note on Wednesday, December 24th. Wall Street Zen upgraded shares of Nukkleus from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Nukkleus Stock Down 5.5%

The company’s fifty day moving average price is $2.37 and its two-hundred day moving average price is $4.82. The firm has a market cap of $25.70 million, a PE ratio of 0.07 and a beta of -6.62.

Insider Transactions at Nukkleus

In related news, insider Anastasiia Kotaieva sold 75,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $4.09, for a total value of $306,750.00. Following the completion of the sale, the insider owned 75,000 shares in the company, valued at $306,750. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 394,952 shares of company stock valued at $1,745,457 in the last three months. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Nukkleus

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Nukkleus by 193.7% during the 4th quarter. Geode Capital Management LLC now owns 124,714 shares of the company’s stock worth $503,000 after purchasing an additional 82,252 shares during the period. UBS Group AG boosted its position in Nukkleus by 23.3% during the 3rd quarter. UBS Group AG now owns 80,512 shares of the company’s stock worth $564,000 after purchasing an additional 15,223 shares during the period. LPL Financial LLC purchased a new stake in shares of Nukkleus in the fourth quarter worth about $120,000. Engineers Gate Manager LP purchased a new position in Nukkleus in the 4th quarter worth approximately $96,000. Finally, State Street Corp grew its holdings in Nukkleus by 70.7% during the 4th quarter. State Street Corp now owns 17,863 shares of the company’s stock valued at $72,000 after purchasing an additional 7,400 shares in the last quarter. 12.47% of the stock is owned by institutional investors and hedge funds.

About Nukkleus

Nukkleus Inc, a financial technology company, provides blockchain-enabled technology solutions worldwide. It focuses on providing software and technology solutions for retail foreign exchange trading industry. The company provides transactions platform for dealing and risk management services. It also offers cross-border payment and transactions solutions and blockchain-enabled financial services solutions to institutional investors. In addition, the company provides software, technology, customer sales and marketing, and risk management technology hardware and software solutions.