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

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DFSC. Wall Street Zen raised DEFSEC Technologies to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of DEFSEC Technologies in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

DEFSEC Technologies Stock Down 6.1%

The stock has a 50 day moving average of $3.11 and a 200 day moving average of $2.58. The company has a market capitalization of $3.08 million, a price-to-earnings ratio of -0.24 and a beta of 2.72.

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

Institutional Investors Weigh In On DEFSEC Technologies

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

About DEFSEC Technologies

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.