Short Interest in ARB IOT Group Limited (NASDAQ:ARBB) Decreases By 41.9%

ARB IOT Group Limited (NASDAQ:ARBB) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 27,047 shares, a drop of 41.9% from the May 14th total of 46,557 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 9,694 shares, the short-interest ratio is currently 2.8 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

ARB IOT Group Stock Performance

Shares of NASDAQ:ARBB opened at $5.61 on Tuesday. ARB IOT Group has a 1-year low of $3.71 and a 1-year high of $13.89. The company has a 50 day moving average price of $4.75 and a 200 day moving average price of $5.22.

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

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.