ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Down 33.9% in August

ARB IOT Group Limited (NASDAQ:ARBB) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 8,400 shares, a drop of 33.9% from the August 15th total of 12,700 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 13,600 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 13,600 shares, the short-interest ratio is presently 0.6 days. Currently, 0.7% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Maxim Group raised ARB IOT Group to a “strong-buy” rating and set a $20.00 price target for the company in a report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, ARB IOT Group presently has a consensus rating of “Strong Buy” and a consensus price target of $20.00.

ARB IOT Group Trading Up 3.5%

Shares of ARBB opened at $4.75 on Wednesday. ARB IOT Group has a 52-week low of $3.62 and a 52-week high of $18.60. The business’s fifty day moving average is $4.90 and its 200-day moving average is $7.70.

Hedge Funds Weigh In On ARB IOT Group

A hedge fund recently bought a new stake in ARB IOT Group stock. Virtu Financial LLC purchased a new stake in ARB IOT Group Limited (NASDAQ:ARBB) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 44,603 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned about 0.17% of ARB IOT Group as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 14.79% of the company’s stock.

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.