ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Update

ARB IOT Group Limited (NASDAQ:ARBB) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 19,023 shares, a drop of 26.1% from the December 31st total of 25,727 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 15,115 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily trading volume, of 15,115 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.1% of the company’s stock are sold short.

ARB IOT Group Stock Performance

ARBB opened at $5.81 on Tuesday. The business’s 50-day simple moving average is $6.01 and its 200 day simple moving average is $5.87. ARB IOT Group has a 52-week low of $3.92 and a 52-week high of $18.60.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of ARB IOT Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, ARB IOT Group currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

ARB IOT Group Company Profile

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.