iOThree Limited (NASDAQ:IOTR) Short Interest Up 916.1% in July

iOThree Limited (NASDAQ:IOTR) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 71,124 shares, a growth of 916.1% from the June 30th total of 7,000 shares. Based on an average trading volume of 3,245,170 shares, the short-interest ratio is presently 0.0 days. Approximately 3.1% of the shares of the company are short sold.

iOThree Stock Performance

Shares of IOTR opened at $3.18 on Friday. The firm’s 50-day simple moving average is $2.99 and its two-hundred day simple moving average is $2.74. iOThree has a fifty-two week low of $1.51 and a fifty-two week high of $7.47.

iOThree (NASDAQ:IOTR) last posted its quarterly earnings results on Tuesday, July 7th. The company reported ($0.22) earnings per share for the quarter. The company had revenue of $3.68 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of iOThree from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

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.