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

iOThree Limited (NASDAQ:IOTR) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 322,378 shares, an increase of 3,179.9% from the May 14th total of 9,829 shares. Based on an average daily trading volume, of 4,264,628 shares, the days-to-cover ratio is currently 0.1 days. Currently, 12.6% of the company’s shares are short sold.

iOThree Price Performance

Shares of NASDAQ IOTR traded down $0.21 during mid-day trading on Tuesday, reaching $3.19. The company had a trading volume of 39,694 shares, compared to its average volume of 2,135,831. The stock has a fifty day moving average of $2.62 and a two-hundred day moving average of $2.68. iOThree has a 12-month low of $1.51 and a 12-month high of $7.47.

Wall Street Analyst Weigh In

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