ARB IOT Group Limited (NASDAQ:ARBB) Sees Large Decline in Short Interest

ARB IOT Group Limited (NASDAQ:ARBB) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 19,023 shares, a drop of 26.1% from the December 31st total of 25,727 shares. Based on an average daily volume of 15,115 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.1% of the company’s stock are sold short. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 15,115 shares, the days-to-cover ratio is presently 1.3 days.

ARB IOT Group Stock Performance

ARBB opened at $5.81 on Friday. The firm’s 50-day moving average price is $6.01 and its 200-day moving average price is $5.86. ARB IOT Group has a 52-week low of $3.92 and a 52-week high of $18.60.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ARB IOT Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.00.

ARB IOT Group Company Profile

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.