ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Up 187.7% in May

ARB IOT Group Limited (NASDAQ:ARBB – Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 46,557 shares, a growth of 187.7% from the April 30th total of 16,185 shares. Based on an average trading volume of 183,326 shares, the short-interest ratio is currently 0.3 days. Approximately 2.6% of the shares of the stock are sold short.

ARB IOT Group Stock Up 0.2%

Shares of ARBB traded up $0.01 during trading hours on Friday, reaching $5.16. 10,976 shares of the company traded hands, compared to its average volume of 112,916. ARB IOT Group has a fifty-two week low of $3.71 and a fifty-two week high of $13.89. The stock has a fifty day simple moving average of $4.49 and a 200 day simple moving average of $5.25.

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ARB IOT Group (NASDAQ:ARBB – Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($1.02) earnings per share for the quarter. The company had revenue of $18.53 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings lowered ARB IOT Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Read Our Latest Analysis on ARBB

ARB IOT Group Company Profile

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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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