ARB IOT Group Limited (NASDAQ:ARBB) Short Interest Up 280.5% in September

ARB IOT Group Limited (NASDAQ:ARBB) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 29,300 shares, an increase of 280.5% from the September 15th total of 7,700 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 310,200 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 310,200 shares, the short-interest ratio is currently 0.1 days. Approximately 2.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of ARB IOT Group in a research report on Wednesday, October 8th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.00.

ARB IOT Group Price Performance

ARBB stock opened at $6.49 on Monday. The stock has a 50-day moving average price of $5.94 and a two-hundred day moving average price of $7.12. ARB IOT Group has a 12-month low of $3.92 and a 12-month high of $18.60.

Institutional Investors Weigh In On ARB IOT Group

An institutional investor recently bought a new position in ARB IOT Group stock. Virtu Financial LLC bought a new position in ARB IOT Group Limited (NASDAQ:ARBB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 44,603 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned 0.17% of ARB IOT Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 14.79% of the company’s stock.

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.