Short Interest in iOThree Limited (NASDAQ:IOTR) Grows By 165.0%

iOThree Limited (NASDAQ:IOTR) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 67,226 shares, a growth of 165.0% from the August 15th total of 25,370 shares. Currently, 3.7% of the shares of the stock are short sold. Based on an average daily volume of 126,850 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of iOThree from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, iOThree presently has a consensus rating of “Sell”.

iOThree Price Performance

NASDAQ IOTR traded down $0.35 during mid-day trading on Monday, hitting $2.02. The stock had a trading volume of 17,522 shares, compared to its average volume of 76,882. The company has a 50 day simple moving average of $2.85 and a 200 day simple moving average of $2.63. iOThree has a 52-week low of $1.51 and a 52-week high of $7.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.41 and a current ratio of 1.80.

iOThree (NASDAQ:IOTR) last posted its earnings results on Tuesday, July 7th. The company reported ($0.22) EPS for the quarter. The business had revenue of $3.68 million during the quarter.

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.