iOThree Limited (NASDAQ:IOTR) Sees Significant Decline in Short Interest

iOThree Limited (NASDAQ:IOTR) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 28,879 shares, a drop of 59.4% from the July 15th total of 71,124 shares. Based on an average daily volume of 31,413 shares, the short-interest ratio is presently 0.9 days. Currently, 1.3% of the company’s stock are sold short.

iOThree Stock Down 3.3%

Shares of IOTR traded down $0.09 on Friday, reaching $2.66. The company’s stock had a trading volume of 5,469 shares, compared to its average volume of 20,723. iOThree has a twelve month low of $1.51 and a twelve month high of $7.47. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $3.03 and a 200-day moving average of $2.72.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of iOThree from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Sell rating, According to 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.