iOThree Limited (NASDAQ:IOTR) Short Interest Up 3,179.9% in May

iOThree Limited (NASDAQ:IOTR) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 322,378 shares, a growth of 3,179.9% from the May 14th total of 9,829 shares. Currently, 12.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,264,628 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

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

iOThree Stock Performance

Shares of NASDAQ:IOTR traded down $0.21 during trading hours on Tuesday, hitting $3.19. 39,694 shares of the company’s stock traded hands, compared to its average volume of 2,135,831. iOThree has a 52 week low of $1.51 and a 52 week high of $7.47. The company’s fifty day simple moving average is $2.62 and its two-hundred day simple moving average is $2.68.

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.