ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Down 41.4% in June

ARB IOT Group Limited (NASDAQ:ARBB) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 11,088 shares, a decrease of 41.4% from the June 15th total of 18,925 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 3,909 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analyst Weigh In

ARBB has been the subject of several research reports. Weiss Ratings upgraded shares of ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Maxim Group downgraded shares of ARB IOT Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, Zacks Research upgraded ARB IOT Group to a “hold” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

ARB IOT Group Stock Performance

Shares of ARBB opened at $4.34 on Thursday. The company’s fifty day moving average is $4.87 and its 200-day moving average is $4.99. ARB IOT Group has a 12 month low of $3.71 and a 12 month high of $13.89.

ARB IOT Group (NASDAQ:ARBB) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.02) earnings per share (EPS) for the quarter. The company had revenue of $18.53 million for the quarter. Analysts expect that ARB IOT Group will post -4.19 EPS for the current year.

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.