Short Interest in iOThree Limited (NASDAQ:IOTR) Drops By 60.0%

iOThree Limited (NASDAQ:IOTR) was the recipient of a significant drop in short interest in 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. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 27,288 shares, the short-interest ratio is currently 0.3 days.

iOThree Stock Performance

Shares of NASDAQ IOTR remained flat at $3.20 during trading hours on Tuesday. The company had a trading volume of 34,750 shares, compared to its average volume of 1,296,231. iOThree has a 52 week low of $1.51 and a 52 week high of $7.47. The business’s 50-day moving average is $2.77 and its 200-day moving average is $2.69.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered iOThree from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently 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.