Litchfield Hills Research Research Analysts Lower Earnings Estimates for KWESST Micro Systems Inc. (NASDAQ:KWE)

Posted by Defense World Staff on Sep 8th, 2023

KWESST Micro Systems Inc. (NASDAQ:KWE – Free Report) – Litchfield Hills Research decreased their FY2023 earnings estimates for shares of KWESST Micro Systems in a research report issued to clients and investors on Tuesday, September 5th. Litchfield Hills Research analyst T. O’neill now expects that the company will earn ($2.01) per share for the year, down from their prior forecast of ($1.97). Litchfield Hills Research has a “Buy” rating on the stock. The consensus estimate for KWESST Micro Systems’ current full-year earnings is ($1.97) per share. Litchfield Hills Research also issued estimates for KWESST Micro Systems’ FY2024 earnings at ($1.30) EPS.

KWESST Micro Systems (NASDAQ:KWE – Get Free Report) last posted its quarterly earnings results on Monday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.06). KWESST Micro Systems had a negative return on equity of 230.51% and a negative net margin of 1,005.91%. The business had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.15 million.

KWESST Micro Systems Trading Up 4.5 %

KWESST Micro Systems stock opened at $1.88 on Thursday. The stock has a market cap of $7.66 million, a price-to-earnings ratio of -0.39 and a beta of 1.94. The company’s 50-day moving average price is $2.20 and its two-hundred day moving average price is $2.56. KWESST Micro Systems has a 52 week low of $1.37 and a 52 week high of $10.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. K.J. Harrison & Partners Inc bought a new position in shares of KWESST Micro Systems in the first quarter valued at approximately $90,000. Sheets Smith Wealth Management bought a new position in KWESST Micro Systems during the fourth quarter worth $90,000. Finally, AIGH Capital Management LLC bought a new position in KWESST Micro Systems during the fourth quarter worth $1,032,000. 14.84% of the stock is currently owned by institutional investors and hedge funds.

About KWESST Micro Systems

(Get Free Report)

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 non-reciprocating and reciprocating PARA OPS devices and ARWEN products with application in the professional and personal defense; modernized digitization products and services of tactical teams for shared real-time situational awareness in the military and civilian markets; and counter-measures comprising battlefield laser defense systems, phantom electronic warfare devices, and GhostNet counter-drone systems, against threats, such as drones, lasers, and electronic detection for the military market.