ARB IOT Group Limited (NASDAQ:ARBB – Get Free Report) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 11,088 shares, a drop of 41.4% from the June 15th total of 18,925 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 3,909 shares, the short-interest ratio is presently 2.8 days.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Maxim Group downgraded ARB IOT Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Weiss Ratings raised ARB IOT Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Finally, Zacks Research upgraded shares of ARB IOT Group to a “hold” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce”.
View Our Latest Stock Report on ARBB
ARB IOT Group Trading Down 0.9%
ARB IOT Group (NASDAQ:ARBB – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.02) EPS for the quarter. The business had revenue of $18.53 million during the quarter.
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.
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