iOThree Limited (NASDAQ:IOTR) Sees Significant Increase in Short Interest

iOThree Limited (NASDAQ:IOTR) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 71,124 shares, a growth of 916.1% from the June 30th total of 7,000 shares. Based on an average trading volume of 3,245,170 shares, the short-interest ratio is presently 0.0 days. Approximately 3.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered iOThree from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, iOThree currently has an average rating of “Sell”.

iOThree Price Performance

Shares of IOTR traded down $0.25 during mid-day trading on Friday, hitting $3.18. 20,364 shares of the company traded hands, compared to its average volume of 1,665,876. iOThree has a one year low of $1.51 and a one year high of $7.47. The business has a 50-day moving average of $2.99 and a 200 day moving average of $2.74.

iOThree (NASDAQ:IOTR) last posted its quarterly earnings data on Tuesday, July 7th. The company reported ($0.22) earnings per share for the quarter. The company had revenue of $3.68 million for the quarter.

iOThree Company Profile

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.