iOThree Limited (NASDAQ:IOTR) Sees Large Drop in Short Interest

iOThree Limited (NASDAQ:IOTR) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 7,000 shares, a drop of 60.0% from the June 15th total of 17,518 shares. Based on an average trading volume of 27,288 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.3% of the company’s shares are sold short.

iOThree Price Performance

IOTR stock opened at $3.30 on Monday. iOThree has a 1 year low of $1.51 and a 1 year high of $7.47. The firm has a 50-day moving average of $2.76 and a 200 day moving average of $2.69.

iOThree (NASDAQ:IOTR) last posted its quarterly earnings data on Tuesday, July 7th. The company reported ($0.22) earnings per share for the quarter. The business had revenue of $3.68 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of iOThree from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, iOThree currently has a consensus rating of “Sell”.

About iOThree

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.