iOThree Limited (NASDAQ:IOTR) Sees Large Growth in Short Interest

iOThree Limited (NASDAQ:IOTR) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 25,553 shares, an increase of 200.4% from the September 15th total of 8,507 shares. Based on an average trading volume of 5,085 shares, the days-to-cover ratio is currently 5.0 days. Approximately 0.8% of the shares of the company are short sold.

iOThree Stock Up 10.8%

NASDAQ:IOTR traded up $0.20 during trading hours on Tuesday, hitting $2.05. 16,905 shares of the company’s stock traded hands, compared to its average volume of 888,696. iOThree has a 52 week low of $1.49 and a 52 week high of $7.47. The business’s fifty day simple moving average is $2.32 and its two-hundred day simple moving average is $2.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.80 and a quick ratio of 1.41.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of iOThree in a research note on Tuesday, October 6th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, iOThree has an average rating of “Sell”.

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.