ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Up 187.7% in May

ARB IOT Group Limited (NASDAQ:ARBB) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 46,557 shares, an increase of 187.7% from the April 30th total of 16,185 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 183,326 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded ARB IOT Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

ARB IOT Group Stock Performance

NASDAQ ARBB traded up $0.01 during trading hours on Friday, hitting $5.16. 10,976 shares of the company’s stock were exchanged, compared to its average volume of 112,916. The business’s 50 day moving average is $4.49 and its 200-day moving average is $5.25. ARB IOT Group has a 12-month low of $3.71 and a 12-month high of $13.89.

ARB IOT Group (NASDAQ:ARBB) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.02) earnings per share for the quarter. The firm had revenue of $18.53 million during the quarter.

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.