ARB IOT Group Limited (NASDAQ:ARBB) Sees Significant Growth in Short Interest

ARB IOT Group Limited (NASDAQ:ARBB) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 585,700 shares, an increase of 41,735.7% from the October 15th total of 1,400 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 8,840,000 shares, the short-interest ratio is currently 0.1 days.

ARB IOT Group Stock Performance

Shares of ARBB traded down $0.03 during midday trading on Tuesday, reaching $0.71. The stock had a trading volume of 207,268 shares, compared to its average volume of 2,782,292. The firm has a 50 day simple moving average of $0.37 and a 200-day simple moving average of $0.52. ARB IOT Group has a one year low of $0.21 and a one year high of $4.55.

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.