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

iOThree Limited (NASDAQ:IOTR) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 67,226 shares, a growth of 165.0% from the August 15th total of 25,370 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average daily volume of 126,850 shares, the days-to-cover ratio is currently 0.5 days.

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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

iOThree Price Performance

NASDAQ IOTR opened at $2.38 on Friday. The company has a 50-day simple moving average of $2.86 and a two-hundred day simple moving average of $2.62. iOThree has a 12-month low of $1.51 and a 12-month high of $7.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.41 and a current ratio of 1.80.

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