ARB IOT Group Limited (NASDAQ:ARBB) Sees Significant Increase in Short Interest

ARB IOT Group Limited (NASDAQ:ARBB) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 46,557 shares, an increase of 187.7% from the April 30th total of 16,185 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average trading volume of 183,326 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of ARB IOT Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

ARB IOT Group Price Performance

ARBB stock opened at $5.16 on Friday. ARB IOT Group has a twelve month low of $3.71 and a twelve month high of $13.89. The company’s 50 day moving average is $4.49 and its two-hundred day moving average is $5.25.

ARB IOT Group (NASDAQ:ARBB) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.02) earnings per share for the quarter. The business had revenue of $18.53 million for the quarter.

About ARB IOT Group

ARB IOT Group Limited, through its subsidiaries, provides Internet of Things (IoT) system solutions, and system integration and support services in Malaysia. It offers IoT smart home and building solutions, such as design, procurement, and provision of smart home products and devices; integration services; and electrical wire installation and home data network setup for homeowners, as well as provides smart building solutions, including design, procurement, installation, testing, pre-commissioning and commissioning of various IoT systems, solutions, and devices; and integration of automated systems for smart buildings, including installation of wire and wireless, and mechatronic works for property developers and contractors.