Short Interest in ARB IOT Group Limited (NASDAQ:ARBB) Increases By 3,354.4%

ARB IOT Group Limited (NASDAQ:ARBB) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 856,700 shares, an increase of 3,354.4% from the February 13th total of 24,800 shares. Approximately 5.7% of the company’s stock are sold short. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On ARB IOT Group

An institutional investor recently bought a new position in ARB IOT Group stock. Renaissance Technologies LLC acquired a new stake in shares of ARB IOT Group Limited (NASDAQ:ARBB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 56,900 shares of the company’s stock, valued at approximately $28,000. Renaissance Technologies LLC owned approximately 0.22% of ARB IOT Group as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 14.79% of the company’s stock.

ARB IOT Group Price Performance

NASDAQ:ARBB opened at $0.78 on Thursday. The business’s fifty day moving average price is $0.55 and its 200 day moving average price is $0.47. ARB IOT Group has a 1-year low of $0.21 and a 1-year high of $1.54.

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.