ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Down 41.4% in June

ARB IOT Group Limited (NASDAQ:ARBB) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 11,088 shares, a drop of 41.4% from the June 15th total of 18,925 shares. Based on an average daily volume of 3,909 shares, the days-to-cover ratio is presently 2.8 days. Approximately 0.6% of the shares of the company are sold short.

ARB IOT Group Price Performance

ARBB stock opened at $4.34 on Thursday. ARB IOT Group has a twelve month low of $3.71 and a twelve month high of $13.89. The business’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $4.99.

ARB IOT Group (NASDAQ:ARBB) last announced its quarterly earnings data on Friday, May 8th. The company reported ($1.02) EPS for the quarter. The business had revenue of $18.53 million during the quarter. As a group, equities research analysts expect that ARB IOT Group will post -4.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ARBB shares. Weiss Ratings raised shares of ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Maxim Group cut shares of ARB IOT Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Zacks Research raised ARB IOT Group to a “hold” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ARB IOT Group presently has an average rating of “Reduce”.

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.