iOThree Limited (NASDAQ:IOTR) Short Interest Down 60.0% in June

iOThree Limited (NASDAQ:IOTR) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 7,000 shares, a decline of 60.0% from the June 15th total of 17,518 shares. Based on an average daily volume of 27,288 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut iOThree from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, iOThree currently has an average rating of “Sell”.

iOThree Price Performance

NASDAQ IOTR traded up $0.06 on Wednesday, reaching $3.26. The company had a trading volume of 10,820 shares, compared to its average volume of 1,286,617. iOThree has a 1-year low of $1.51 and a 1-year high of $7.47. The company’s fifty day moving average is $2.79 and its 200-day moving average is $2.69.

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

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.