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

iOThree Limited (NASDAQ:IOTR) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 9,829 shares, a decline of 42.3% from the April 30th total of 17,038 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 15,845 shares, the days-to-cover ratio is currently 0.6 days.

iOThree Price Performance

NASDAQ IOTR traded up $0.36 on Thursday, hitting $4.08. The company had a trading volume of 2,029,910 shares, compared to its average volume of 1,293,253. The company’s fifty day moving average price is $2.49 and its 200-day moving average price is $2.67. iOThree has a 12-month low of $1.51 and a 12-month high of $7.47.

Analysts Set New Price Targets

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