KWESST Micro Systems (NASDAQ:KWE) Trading 3.6% Higher

Shares of KWESST Micro Systems Inc. (NASDAQ:KWE) rose 3.6% on Wednesday . The stock traded as high as $0.75 and last traded at $0.75. Approximately 95,612 shares changed hands during trading, an increase of 11% from the average daily volume of 86,002 shares. The stock had previously closed at $0.72.

KWESST Micro Systems Stock Performance

The firm’s 50-day moving average price is $1.01 and its two-hundred day moving average price is $1.13. The stock has a market cap of $5.05 million, a price-to-earnings ratio of -0.72 and a beta of 1.48.

KWESST Micro Systems (NASDAQ:KWE) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.13. The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.73 million. KWESST Micro Systems had a negative net margin of 1,045.44% and a negative return on equity of 289.30%. As a group, sell-side analysts expect that KWESST Micro Systems Inc. will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Warberg Asset Management LLC acquired a new position in KWESST Micro Systems in the third quarter valued at about $140,000. Worth Venture Partners LLC lifted its position in KWESST Micro Systems by 91.1% in the third quarter. Worth Venture Partners LLC now owns 283,767 shares of the company’s stock valued at $477,000 after buying an additional 135,239 shares during the last quarter. Finally, AIGH Capital Management LLC lifted its position in KWESST Micro Systems by 40.4% in the third quarter. AIGH Capital Management LLC now owns 556,175 shares of the company’s stock valued at $899,000 after buying an additional 160,000 shares during the last quarter. Institutional investors and hedge funds own 21.39% of the company’s stock.

KWESST Micro Systems Company Profile

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.