Short Interest in iOThree Limited (NASDAQ:IOTR) Expands By 916.1%

iOThree Limited (NASDAQ:IOTR) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 71,124 shares, a growth of 916.1% from the June 30th total of 7,000 shares. Based on an average daily volume of 3,245,170 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut iOThree from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, iOThree currently has a consensus rating of “Sell”.

iOThree Stock Performance

Shares of IOTR opened at $3.18 on Friday. iOThree has a twelve month low of $1.51 and a twelve month high of $7.47. The company has a 50 day moving average of $2.99 and a two-hundred day moving average of $2.74.

iOThree (NASDAQ:IOTR) last released its earnings results on Tuesday, July 7th. The company reported ($0.22) EPS for the quarter. The company had revenue of $3.68 million for the quarter.

iOThree Company Profile

We are a leading provider of maritime digital technologies including satellite connectivity and digitalization solutions in Singapore focused on facilitating the maritime industry towards digital transformation. Based on the Frost & Sullivan Report, as of March 31, 2024, we ranked fifth in the Singaporean market based on revenue from the provision of maritime connectivity and digital solutions with a market share of approximately 6.2%. Our company was established to adopt an innovative approach towards the management of solutions accustomed to contemporary needs and drive the digital evolution in the maritime industry.