ARB IOT Group Limited (NASDAQ:ARBB – Get Free Report) was the recipient of a significant decline in short interest in the month of 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. Based on an average daily volume of 4,988 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are sold short.
Analyst Ratings Changes
Separately, Weiss Ratings raised shares of ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 20th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce”.
Read Our Latest Report on ARBB
ARB IOT Group Stock Performance
Shares of ARB IOT Group stock traded up $0.23 on Friday, hitting $3.73. 7,558 shares of the company traded hands, compared to its average volume of 18,503. The firm’s 50-day simple moving average is $4.30 and its 200 day simple moving average is $4.68. ARB IOT Group has a 12-month low of $3.50 and a 12-month high of $10.67.
ARB IOT Group (NASDAQ:ARBB – Get Free Report) last announced its earnings results on Friday, October 30th. The company reported ($4.79) EPS for the quarter. The company had revenue of $10.28 million during the quarter.
About ARB IOT Group
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.
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