ARB IOT Group Limited (NASDAQ:ARBB – Get Free Report) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 856,700 shares, a growth of 3,354.4% from the February 13th total of 24,800 shares. Approximately 5.7% of the company’s stock are short sold. Based on an average daily volume of 3,270,000 shares, the short-interest ratio is currently 0.3 days.
Hedge Funds Weigh In On ARB IOT Group
A hedge fund recently bought a new stake in ARB IOT Group stock. Renaissance Technologies LLC purchased a new position in shares of ARB IOT Group Limited (NASDAQ:ARBB – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,900 shares of the company’s stock, valued at approximately $28,000. Renaissance Technologies LLC owned about 0.22% of ARB IOT Group as of its most recent SEC filing. Hedge funds and other institutional investors own 14.79% of the company’s stock.
ARB IOT Group Trading Up 3.8 %
Shares of ARB IOT Group stock opened at $0.78 on Thursday. The stock has a 50-day simple moving average of $0.55 and a 200-day simple moving average of $0.47. ARB IOT Group has a 52-week low of $0.21 and a 52-week high of $1.54.
About ARB IOT Group
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.
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