ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Update

ARB IOT Group Limited (NASDAQ:ARBB) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 27,047 shares, a decline of 41.9% from the May 14th total of 46,557 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 9,694 shares, the short-interest ratio is currently 2.8 days.

ARB IOT Group Stock Down 2.4%

ARBB stock opened at $5.58 on Friday. The business has a 50 day moving average of $4.72 and a 200-day moving average of $5.22. ARB IOT Group has a 12-month low of $3.71 and a 12-month high of $13.89.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, ARB IOT Group presently has an average rating of “Sell”.

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.