Short Interest in iOThree Limited (NASDAQ:IOTR) Declines By 49.9%

iOThree Limited (NASDAQ:IOTR) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 17,038 shares, a drop of 49.9% from the April 15th total of 34,029 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average trading volume of 15,334 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analyst Weigh In

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

iOThree Trading Up 0.5%

IOTR stock traded up $0.01 during midday trading on Friday, hitting $1.97. 9,852 shares of the company traded hands, compared to its average volume of 16,626. iOThree has a twelve month low of $1.51 and a twelve month high of $7.47. The business has a 50 day simple moving average of $2.30 and a 200-day simple moving average of $2.71.

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.