ARB IOT Group Limited (NASDAQ:ARBB) Shares Shorted: Short Interest Down 89.9% in October

ARB IOT Group Limited (NASDAQ:ARBB) was the recipient of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 211 shares, a decrease of 89.9% from the October 15th total of 2,080 shares. Based on an average daily volume of 8,242 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

ARB IOT Group Price Performance

ARBB traded down $0.06 during midday trading on Thursday, hitting $3.51. 1,951 shares of the company were exchanged, compared to its average volume of 18,000. ARB IOT Group has a 1-year low of $3.16 and a 1-year high of $10.67. The company’s 50 day simple moving average is $4.15 and its 200 day simple moving average is $4.57.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of ARB IOT Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, November 3rd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ARB IOT Group currently has a consensus rating of “Reduce”.

ARB IOT Group Company Profile

ARB IOT Group Limited is a technology company focused on Internet of Things (IoT) products and solutions. Through its operating subsidiaries, the company develops and supplies connected devices and technology designed to collect, transmit and analyze data for use by businesses and consumers. The company’s offerings include IoT hardware and related software and services for applications such as smart homes, smart buildings, industrial operations and other connected environments. Its solutions are intended to support automation, monitoring, remote management and data-driven decision-making.