Short Interest in KWESST Micro Systems Inc. (NASDAQ:KWE) Decreases By 96.1%

KWESST Micro Systems Inc. (NASDAQ:KWE) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 14,600 shares, a drop of 96.1% from the October 31st total of 378,300 shares. Based on an average daily trading volume, of 309,200 shares, the short-interest ratio is presently 0.0 days. Approximately 0.9% of the shares of the stock are sold short.

KWESST Micro Systems Stock Down 10.7 %

Shares of NASDAQ:KWE traded down $0.08 during midday trading on Thursday, reaching $0.71. The company’s stock had a trading volume of 433,970 shares, compared to its average volume of 288,823. The firm has a market cap of $1.12 million, a price-to-earnings ratio of -0.09 and a beta of 1.52. KWESST Micro Systems has a 1 year low of $0.53 and a 1 year high of $16.73. The business has a 50 day moving average price of $1.21 and a 200 day moving average price of $2.59.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KWESST Micro Systems stock. Warberg Asset Management LLC purchased a new position in KWESST Micro Systems Inc. (NASDAQ:KWE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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 filing with the Securities & Exchange Commission. 21.39% of the stock is currently owned by institutional investors.

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.