ARB IOT Group Limited (NASDAQ:ARBB) Sees Significant Drop in Short Interest

ARB IOT Group Limited (NASDAQ:ARBB) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 2,080 shares, a decline of 61.3% from the September 30th total of 5,380 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 4,988 shares, the days-to-cover ratio is currently 0.4 days.

ARB IOT Group Trading Down 3.8%

Shares of ARBB stock opened at $3.87 on Thursday. The firm has a fifty day moving average price of $4.31 and a 200 day moving average price of $4.69. ARB IOT Group has a 12 month low of $3.65 and a 12 month high of $10.67.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 20th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

ARB IOT Group Company Profile

ARB IOT Group Limited is a technology company focused on Internet of Things (IoT) products and solutions. Through its operating subsidiaries, the company develops and supplies connected devices and technology designed to collect, transmit and analyze data for use by businesses and consumers.

The company’s offerings include IoT hardware and related software and services for applications such as smart homes, smart buildings, industrial operations and other connected environments. Its solutions are intended to support automation, monitoring, remote management and data-driven decision-making.

ARB IOT Group is headquartered in Malaysia and has described its business as serving customers in Malaysia and other markets in the region.