ARB IOT Group Limited (NASDAQ:ARBB) Sees Large Increase in Short Interest

ARB IOT Group Limited (NASDAQ:ARBB) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 46,557 shares, an increase of 187.7% from the April 30th total of 16,185 shares. Based on an average trading volume of 183,326 shares, the days-to-cover ratio is presently 0.3 days. Approximately 2.6% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings cut ARB IOT Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.00.

ARB IOT Group Price Performance

Shares of NASDAQ:ARBB opened at $5.16 on Monday. ARB IOT Group has a 12-month low of $3.71 and a 12-month high of $13.89. The business has a 50 day moving average of $4.49 and a two-hundred day moving average of $5.24.

ARB IOT Group (NASDAQ:ARBB) last announced its quarterly earnings results on Friday, May 8th. The company reported ($1.02) earnings per share (EPS) for the quarter. The business had revenue of $18.53 million during the quarter.

ARB IOT Group Company Profile

ARB IOT Group Limited, through its subsidiaries, provides Internet of Things (IoT) system solutions, and system integration and support services in Malaysia. It offers IoT smart home and building solutions, such as design, procurement, and provision of smart home products and devices; integration services; and electrical wire installation and home data network setup for homeowners, as well as provides smart building solutions, including design, procurement, installation, testing, pre-commissioning and commissioning of various IoT systems, solutions, and devices; and integration of automated systems for smart buildings, including installation of wire and wireless, and mechatronic works for property developers and contractors.