iOThree Limited (NASDAQ:IOTR) Sees Large Decrease in Short Interest

iOThree Limited (NASDAQ:IOTR) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 17,518 shares, a decline of 94.6% from the May 31st total of 322,378 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 308,124 shares, the days-to-cover ratio is presently 0.1 days.

iOThree Stock Up 5.8%

Shares of IOTR traded up $0.16 during midday trading on Friday, reaching $2.87. 7,045 shares of the stock were exchanged, compared to its average volume of 1,140,367. iOThree has a twelve month low of $1.51 and a twelve month high of $7.47. The stock’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $2.67.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised iOThree from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

iOThree Company Profile

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.