iOThree Limited (NASDAQ:IOTR – Get Free Report) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 322,378 shares, an increase of 3,179.9% from the May 14th total of 9,829 shares. Approximately 12.6% of the shares of the company are short sold. Based on an average trading volume of 4,264,628 shares, the short-interest ratio is presently 0.1 days.
iOThree Stock Performance
Shares of NASDAQ IOTR traded down $0.01 during midday trading on Wednesday, hitting $3.18. 9,033 shares of the company’s stock were exchanged, compared to its average volume of 1,250,618. iOThree has a twelve month low of $1.51 and a twelve month high of $7.47. The stock’s 50 day moving average price is $2.62 and its 200-day moving average price is $2.68.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of iOThree from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.
About iOThree
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.
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