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

iOThree Limited (NASDAQ:IOTR) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 17,518 shares, a decrease of 94.6% from the May 31st total of 322,378 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 308,124 shares, the days-to-cover ratio is currently 0.1 days.

iOThree Stock Performance

Shares of iOThree stock traded down $0.09 on Thursday, reaching $2.71. 16,337 shares of the stock were exchanged, compared to its average volume of 2,150,854. The firm’s 50 day moving average is $2.73 and its 200-day moving average is $2.67. iOThree has a one year low of $1.51 and a one year high of $7.47.

Analysts Set New Price Targets

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